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A community land trust(CLT) is a nonprofit organization formed to hold title to land to preserve its long-term availability for affordable housing and other community uses. A CLT typically receives public or private donations of land and uses donated funds and/or government subsidies to purchase land on which housing can be built. The homes are sold to lower-income families, but the CLT retains ownership of the land and provides long-term ground leases to homebuyers. The CLT also retains a long-term option to repurchase the home at a formula-driven price when homeowners later decide to move.
Home Trust of Skagit began as a program of Skagit County Community Action Agency, electing the first Home Trust of Skagit Board of Directors on March 4, 2009 at the first HTS annual meeting. HTS received its 501(c)(3) non-profit status from the IRS in November 2010. On October 1, 2011, HTS began to operate as its own independent organization and took over ownership of Channel Cove in La Conner, WA.
You can be a homeowner and can build equity in your home, which is an investment in your future financially and for your family. The program protects limited income residents from being displacement.
The property on which your home sits would remain at a low cost for future homeowners, should you choose to sell.
Yes! Our program is open to those who earn 80 percent of the Skagit County Average Median Income (AMI), which is $66,300. The government determines that 80 percent of the AMI for a family of four is $53,050.