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Board
Meeting Schedule |
MISSION STATEMENT
“To create quality housing for the low to
moderate income residents of our Keys Community, who provide vital services,
and
who cannot presently afford today’s costs for shelter.”
WHO WE ARE:
From a series of Affordable Housing Summits hosted by Department
of Community Affairs (DCA) and the South Florida Regional Planning
Council (SFRPC) in 1999, a number of recommendations were made to
address the critical issue of affordable housing. One of the
recommendations was to form a Land Trust. In 2000, Bill Daniels
Jr. and Frank Greenman created and incorporated the Middle Keys
Community Land Trust.
The Middle Keys Community Land Trust (MKCLT) is a grass roots,
community based private, non-profit organization whose mission is
to provide affordable housing homeownership and rental
opportunities for the workforce in Monroe County.
The all-volunteer Board of Directors consists of broad cross
section of affordable housing advocates representing the City of
Marathon, Department of Community Affairs, local business,
community activists, Monroe County and the Sheriff’s Department.
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HOW IT WORKS:
The Trust will construct homes, but will retain ownership of the
land. The homebuyer will purchase the home and will receive a
99-year renewable ground lease.
The resale price of the home will be determined by an indexed
formula, which limits the resale price of the home, thereby
keeping it affordable for future buyers. In exchange for the
opportunity to own or rent a home they might not otherwise be able
to afford, applicants agree to pass the opportunity along to
others through the resale formula. The Land Trust model is a
program to create shelter, not investment.
Since the land remains in the control of the Trust, only those
qualifying under the affordable housing income limits will be
allowed to purchase the home at a controlled cost, therefore the
land will be used for affordable housing in perpetuity. By taking
the cost of the land out of the equation, the homebuyer can
purchase the home at a lower cost.
The homeowners or renters must be members of the Land Trust and
must make a commitment to attend meetings and assist others to
achieve the same opportunity for safe, decent shelter and
stability. This creates a strong sense of community and commitment
to help others.
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