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ABOUT THE LAND TRUST
What is a Community Land Trust? · Our Board · Our Staff
Our Mission: Providing permanently affordable homes, and land, for the benefit of our community.
Orange Community Housing and Land Trust is a nonprofit developer of affordable homes in Orange County. Land Trust homeowners are school teachers, town employees, university and hospital workers, families with children, retirees, and single adults who earn 80 percent or less of the area median income.
Our properties include single-family homes, townhomes, and condominiums; typically, a 3-bedroom 2-bath Land Trust townhouse in Chapel Hill with an appraised value of $165,000 sells for around $105,000. This is made possible by housing subsidies and because the ownership of the land itself remains with the Land Trust.
Homeowners sign a 99-year ground lease that conveys to them the rights and responsibilities of ownership. When they sell, a resale formula keeps the price affordable for the next homeowner.
The Land Trust was formed in July of 2001 by the merger of Orange Community Housing Corporation (OCHC), founded in 1990 to build affordable housing, and the Community Land Trust in Orange County, founded in 1999 to retain ownership of the land.
OCHC successfully completed just over 100 housing units, including 42 single-family homes at Magnolia Place in Hillsborough, when community members and local officials realized that these once-affordable homes quickly were becoming unaffordable on the resale market. A task force study recommended the formation of a community land trust as a way to keep affordable homes affordable forever.
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