Comment 120065

By Borrelli (registered) | Posted September 19, 2016 at 11:14:00

Hi Simon/SBWoodside, three quick replies:

1) CLT gets the money from members, and looks for affordability through tax sales and other land liquidations. However we are not at that point yet--our membership model is still under development while we concentrate on a few potential leads.

2) Property taxes will float, and that's a reality that would have to be worked into the lease-back model. The real way in which affordability is addressed is by taking the land off the market permanently and splitting it from its land-use. That is, residents in units built on a CLT pay for only what is built on the land--the increasing price of the land is not factored into the rental.

3) Yes, that's the idea. Hopefully we'll have more good news on that front in 2017.

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