The Community Co-Ownership Initiative
Key Focus Areas:
Training / Leadership Development: Education and training is at the heart of our program. By training community members at risk of displacement in the basics of site assessment, group decision making, leadership skills and financial analysis we are able to broaden the range of economically feasible co-ownership projects and make better use of scarce resources while providing valuable skills.
Identification and Acquisition of Opportunity Sites: by working with prospective resident groups trained in initial site assessment, decision making, and technical assistance we will focus on sites that residents identify as priorities for the use of development funds.
Innovative Financing: A key part of NCLT’s ground work has been the development of the Small Sites Acquisition Model which leverages local subsidy funds for small sites (Berkeley and the MTC’s NOAH fund) with conventional bank / CDFI financing, and finally the development of the East Bay Permanent Real Estate Cooperative with the Sustainable Economies Law Center and POCSHN which is structured to allow community members to directly invest in the development of resident-controlled affordable housing in their community.
Stewardship: Finally, once a project is developed and owned by residents the NCLT provides long-term stewardship, support and guarantees that the community investment in affordability will assist generations of future residents. POCSHN envisions creating a network of resources that fosters long term community support for the governance, maintenance, and sustainability of co-ownership projects. The end product is permanently affordable resident-controlled ownership housing for existing and emerging resident groups. At the end of development cycle the land is retained by the CLT (Community Land Trust) and the CLT stewards the project long-term to ensure permanent affordability and viability of the property.