Nashville Creates Community Land Trust To Stem Gentrification
Monday, January 29, 2018
January 29, 2018 - Nashville is creating the city's first community land trust, the Mayor's office announced Tuesday. The trust will buy up property, maintain partial ownership and keep it affordable for generations of owners. To do this, the city says it will use its Barnes Housing Trust Fundto partner with The Housing Fund, a local non-profit. Together, they will buy up a stock of properties and put them in a land trust. This a tool used by a number of cities around the country to thwart gentrification. Chicago, Seattle, New York, all have community land trusts. “If Nashville is going to close the housing needs gap, we are going to have to be bold and innovative in our solutions to build, preserve, and maintain our supply of affordable housing,” said Nashville's Mayor Megan Barry. Click here for full article.
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