Two Rivers Community Land Trust
Home Ownership Assistance
Two Rivers Community CLT
PO Box 25451, Woodbury, MN, 55125
Distance: 494 Miles
(651) 994-9194
sherry@tworiversclt.org
https://www.tworiversclt.org/the-application-process
Service Details
Description
Home ownership program that offers financial assistance to make home purchases more affordable for those that meet eligibility requirements
Additional Information
Provides permanently affordable housing alternatives for low- to moderate-income homebuyers in Washington County
Two Rivers owns the land and the homeowner owns the house. In addition, at sale the owner agrees to only take a percentage of the increase in value to ensure long term affordability.
After purchase, services include:
* Answer questions about property
* Referrals to service providers for personal, household and financial needs
* Social and networking opportunities
* Assist with resale of the home
* Education and training on home maintenance
Features
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Area Served by County
- Washington County
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Specialization
- Family
- People with low income
Eligibility
Individuals, families and households earning up to 80% median income in the St. Croix River Valley.
Application Instructions
Applicants must meet income limits.
Area Served
Washington County
Websites
Phone Numbers
Type | Number | Hours |
---|---|---|
Main | (651) 994-9194 |
Last Update
5/21/2024
Other Locations
This provider does not offer this service at other locations.
Other Services or resources
This provider does not offer other services or resources at this location.
Taxonomy Terms Used: Clicking a taxonomy term from the list below launches a new search.
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TB-3000.1500Community Land Trusts Definition
Housing development organizations that acquire and hold parcels of land, primarily for conveyance under long-term leases, but transfer ownership of structural improvements (residential and commercial buildings) on leased parcels as a way of creating and preserving affordable housing. The land leases are generally renewable and may be assignable to the heirs of the leaseholder, but have "limited equity" policies and formulas that restrict the resale price of the housing in order to maintain its long-term affordability. The trust may also retain a preemptive option to purchase improvements located on the land at a price determined by the formula. The objective of community land trusts is to provide homeownership opportunities for people who might otherwise be left out of the market and to preserve the long-term eligibility and accessibility of housing predominantly for very low income, low income and moderate income individuals and families.
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YL-3300.4500Low Income Definition
Individuals or families whose annual income is between 150 and 200% of poverty level for their family size.
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YL-3300.6500Poverty Level Definition
People whose annual income is within the federal poverty level guidelines which vary according to family size and are revised annually.