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WEBINAR- Surplus Land and Shared Equity
April 25 - 2:00 pm - 3:30 pm
This training was formerly titled ‘Shared Equity’. Surplus land is a key resource for local governments in the production of workforce and affordable housing affordability. The Live Local Act provides new requirements and guidance on best practices for how local governments manage the disposition of land, including encouraging the utilization of land (99-yr) leases as well as new property tax exemptions for land owned by nonprofits.
The encouragement of land leasing and new tax exemption provides clear benefits for local governments in partnering with community land trusts, a shared equity model for permanent affordability, in the disposition of public land for housing development. This webinar introduces philosophy and mechanics of shared equity programs such as community land trusts, including the difference between subsidy recapture and subsidy retention, how incorporating shared equity provisions into land disposition and SHIP strategies can effectively grow and preserve the affordable housing stock in any community. The presenters will cover the benefits of shared equity homeownership for both the homebuyer and the community, program design including model SHIP strategy(s) and lending for community land trusts.