In order to establish a community land trust, ten different criterion must be fulfilled. The community must be a non-profit, tax exempt corporation. There must be dual ownership. The land must be leased to individual homeowners. Perpetual affordability must be maintained so that prices do not rise out of control. The underlying owners must uphold perpetual responsibility for the land they lease out. A community “base” must be established, in which the “boundaries” of the community are recognized. Residents must have representation, either directly or through elected officials to help make decisions about the community. A tripartite governance must be set – which is essentially like the three houses of government to help govern the community. It must have an expansionist acquisition, which aims to expand the community. And finally, there must be flexible development – being able to accomodate family homes, condos, apartments, business, motor homes, etc.
If and when these critera are met, a trust may be granted by the government.
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