Martin County Community Land Trust focused on affordable housing solutions
The Martin County Community Land Trust, a newly formed nonprofit dedicated to improving lives through strategic investments in affordable housing solutions, is pleased to announce its official recognition as a 501(c)(3) organization from the U.S. Internal Revenue Service.
“Achieving this designation as a 501(c)(3) nonprofit is a significant milestone for our organization,” explained Harold Jenkins, Chairman of the Board of Directors for the Martin County Community Land Trust. “It not only provides tangible benefits like tax exempt status and the ability to apply for grants, but it also symbolizes official recognition of our commitment to serving the public good.”
“We all know how much the cost of buying a home has increased,” Jenkins said. “Demand is far greater than supply right now, and rental units are hard to find. Working families are struggling, and we need to take a new approach. The housing crisis in Martin County is the key reason we created this local Land Trust,” added Jenkins.
With its official nonprofit designation, the Martin County Community Land Trust can now accept donations of public and private lands and, using donated funds from the private sector, purchase land and houses in Martin County.
Why Create a Land Trust?
The Martin County Community Land Trust was created in 2023 as a collaborative effort between community leaders and local government. The Community Land Trust (CLT) Model is designed to preserve affordable housing in perpetuity, one generation after the next.
The local land trust acquires land and serves as the permanent repository and steward for the residences that are built upon it. Community Land Trusts ensure long-term affordability for renters and homeowners by separating ownership of the land from the structure on top of it.
“Because the Martin County Community Land Trust will continue to own the land, the community can be assured that the housing built on it will remain affordable,” Jenkins added.
How the Land Trust Works.
The new housing units on properties owned by the Martin County Community Land Trust are sold or leased at affordable prices.
Prospective buyers and renters are screened to ensure these affordable housing options are offered to people who need them most: families at 50% to 80% of the area’s median income that might otherwise not be able to afford a home in a safe neighborhood with amenities such as good schools.
“Having a stable home, whether you own or rent, is crucially important to a family’s well-being and to the health of the greater community,” said Martin County Community Land Trust Executive Director Wendy Reynoso. “With this innovative solution to our housing crisis, our entire community will benefit.”
With a volunteer Board of Directors and a compelling mission, the Martin County Community Land Trust is now ready to create long-term benefits for the community. For more information about how a Land Trust works and how Martin County is addressing housing solutions, visit www.MCCLT.org.
About The Martin County Community Land Trust
The Martin County Community Land Trust is a nonprofit 501(c)(3) organization dedicated to improving the lives of Martin County’s current and future residents through investment in affordable housing solutions. It is guided by a volunteer Board of Directors and partners with local governments, community leaders, builders, funders, and community nonprofit organizations to create an alternative way to provide long-term affordable housing for residents who aren’t being served well by the traditional model of buying and selling homes. For more information, visit the website www.MCCLT.org.
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