The Trust also helps preserve, maintain, and augment the obvious existing affordable housing stock.
Our principal, but not only, way to provide affordability is that the land for both new and rehabilitated homes is to be owned by The Community Land Trust of Southold Town.
The CLT of Southold Town is envisioned to be a community-based, non-profit corporation that can solicit grants and loans for the purpose of building new houses, renovating old ones, and subsidizing or guaranteeing loans for leasees if necessary. This flexibility enables the trust to increase the number of homes in its program and to aid first-time buyers who might otherwise have difficulty qualifying for loans. At the same time, its power to limit the increase in selling price enables it to keep housing affordable for the next buyer.
