Housing Land Trust VC

The Housing Land Trust Ventura County (HLTVC), a supporting nonprofit of the Housing Trust Fund Ventura County (HTFVC), has been established to provide lasting community assets and permanently affordable housing opportunities for families, working class individuals, and fixed income residents in Ventura County.

Mission:

Housing Land Trust Ventura County (HLTVC) provides permanently affordable housing opportunities on donated land for those who contribute to the fabric of Ventura County’s economy and community

Purpose:

HLTVC has been created to facilitate the development of affordable housing for low and moderate income residents of Ventura County by:

creating and maintaining permanently affordable single-family or multi-family residences through a “community land trust.”
receiving donated land for the development of affordable deed-restricted single- and multi-family housing, in order to provide decent, safe, and sanitary housing affordable to persons and families of low to moderate incomes.
assisting low and moderate income households by providing them with affordable homeownership opportunities, while preserving the quality and affordability of the homes for future low and moderate income residents of Ventura County.
promoting social welfare through the support of affordable housing in Ventura County.
assisting local governments, their agencies and authorities, including boards and commissions, through the undertaking of housing and program administration activities for low and moderate income households.
assisting local governments in the preservation of affordable housing through acquiring property to be held by HLTVC indefinitely, primarily for conveyance under long-term ground leases to low and moderate income households and organizations operating affordable rental housing and whereby these same households and organizations will own the improvements located on such leased properties.
carrying out other activities to create and maintain permanently affordable single-family and multi-family residences.

Structure:

Housing Land Trust Ventura County has an eleven-member Board of Directors with the majority of directors selected from the Housing Trust Fund Ventura County Board plus two community members. Directors are community members with experience in housing, finance, land use, government, development, and former or current residents of affordable housing.

Linda Braunschweiger, CEO, Housing Trust Fund Ventura County, is the CEO for the Land Trust. Ms. Braunschweiger has over thirty-five years of experience in finance, affordable housing, housing development, and non-profit management. In addition, HLTVC will utilize Board members and contract consultants to ensure the success of the Land Trust.

Work:

HLTVC works to receive donated land that can be developed for affordable housing on a 99-year lease for either rental housing or homeownership.

The organization does not act as a developer but works with a city selected developer or a developer selected through an RFP process run by HLTVC.

HTFVC charges low monthly fees or annual fee to HLTVC for oversight of compliance with affordability covenants; for intervention in the event of poor maintenance or foreclosure; and management of homebuyer programs.

HLTVC takes a unique and long-term approach to community development by structuring:

how property ownership is held
how public and private subsidy investments are applied
how long-term relationships with residents, occupants, and users are nurtured and maintained over time
a strategy to acquire and retain ownership of targeted land parcels within Ventura County
a plan to remove this land from the speculative market forever
long-term safeguards against sale of land designated for affordable housing
agreements to lease land for affordable housing uses

HLTVC separates ownership of land from improvements:

Land Trust retains ownership of land
Improvements are owned by individual(s) or corporation(s)
Land Trust leases land and transfers liability of land to owner of improvements

HLTVC outcomes:

Key community assets are preserved and kept accessible and affordable forever
Housing affordability and quality is preserved and leveraged for public (and private) investment
Land Trust homeowners are now able to build personal wealth, which creates security and stability. Renters gain security from long-term affordable rental rates
Communities benefit by not being vulnerable to gentrification and displacement

Address:

360 Mobil Avenue, Suite 213B, Camarillo, CA 93010
(805) 384-1144
HLTVC EIN Tax ID: 85-4294831

Community Land Trusts (CLT) are nonprofit organizations—governed by a board of CLT residents, community residents and public representatives—that provide lasting community assets and permanently affordable housing opportunities for families and communities. CLTs develop rural and urban agriculture projects, commercial spaces to serve local communities, affordable rental and cooperative housing projects, and conserve land or urban green spaces. The heart of their work is the creation of homes that remain permanently affordable, providing opportunities for generations of lower income families. (National Community Land Trust Network)

A supporting organization is a specific type of public charity that carries out its exempt purpose by supporting other exempt organizations, usually other public charities. The key feature of a supporting organization is a strong relationship with the organization it supports. This strong relationship enables the supported organization to oversee the operations of the supporting organization. Therefore, the supporting organization is classified as a public charity, even though it may be funded by a small number of persons in a manner similar to a private foundation.