How do CLTs benefit the community?
Rising land, housing costs and a loss of affordable units have limited housing options for many people who live or work in Brunswick. These trends threatened the City's tradition of inclusiveness and make it difficult for many local businesses to hire and retain employees. In addition, workers making long commutes add to traffic congestion. Escalating land prices have also increased the number of residential tear-downs changing the character of many city neighborhoods.
By holding land for the benefit of the community, CLTs counter increasing housing costs that are driven by rapidly appreciating land values. In addition, by focusing on preserving existing housing stock CLTs help preserve the character of existing neighborhoods. Finally, through the resale restrictions CLTs maximize the cost effectiveness of the public and private investment used to make homes affordable to the first buyer. Thus providing a fair return to the homeowner while ensuring continued affordability for succeeding buyers. Properties can include a variety of housing such as single family homes, duplexes, town houses, condominium units, small multi-unit buildings and undeveloped land.