Latest news with #CommunityLandTrust
CBC
18-05-2025
- Business
- CBC
New cooperative housing model aims to create more affordable homes in B.C.
Co-op housing advocates want to see a newer housing model more widely adopted to ensure homes remain affordable. It comes as residents at ONE Vancouver co-op face a potential million-dollar property transfer tax if their lease is renewed for more than 30 years. Leanne Yu reports that the Community Land Trust model aims to do away with lease renewal complications.
Associated Press
05-03-2025
- Business
- Associated Press
Father's House Restoration Ministries Launches a Community Land Trust (CLT)
Father's House Restoration Ministries, in Partnership with Asset Manager Conscious Markets, Launches Community Land Trust to Transform Oroville. Oroville, California - On January 29th, 2025, Father's House Restoration Ministries (FHRM), advised by Conscious Markets Group company CMG Revival Partners, announced the launch of the Father's House Oroville Community Land Trust (FHOCLT), in a local townhall. The FHOCLT is a nonprofit, spirit-filled initiative dedicated to providing low to lower-income residents with affordable housing, homeownership opportunities, and training, and fostering sustainable community development in Oroville, California. Goals of the Community Land Trust The Community Land Trust aims to revitalize the community by collaborating with residents, investors, institutions, and real estate developers to increase affordable homeownership opportunities. By retaining ownership of the land and regulating rents, the FHOCLT ensures long-term housing stability for low-income residents. Additionally, the trust offers lease-to-own options, empowering individuals to transition from renting to owning their homes. Members of the Community Land Trust benefit from access to financial, business, and wellness support programs. Universal membership privileges include voting on board requested decisions, participation in skills and vocational training, and priority notifications for housing opportunities and innovative programs. Resident members enjoy further advantages, such as exclusive access to affordable rental and homeownership options. Funding for the Community Land Trust is sourced from public and private grants, donations, and partnerships with developers and property owners. These resources support property acquisition, development, and essential programs like credit and homeowner training. In collaboration with CMG Revival Partners, FHRM is also set to launch the Father's House Restoration Opportunity Fund in 2025, offering investors access to federal Opportunity Zone capital gains tax benefits. 'Building upon over three decades of community service, Father's House Restoration Ministries (FHRM) has significantly impacted Oroville through various initiatives, including low-income housing, food assistance programs, and support for individuals recovering from addiction and trauma. 'The establishment of the Father's House Oroville Community Land Trust marks a pivotal step in FHRM's ongoing commitment to fostering generational stability and prosperity within the community. We are excited to see what God plans for City of Oroville.' - Ifeanyi Jemie, CEO of CMG For more information about the Father's House Oroville Community Land Trust and how to participate, please visit About Father's House Restoration Ministries Father's House Restoration Ministries is a registered 501(c)(3) nonprofit organization dedicated to transforming communities through faith-driven programs, affordable housing, and sustainable development initiatives. With hearts for serving low-income individuals and families, FHRM strives to create lasting positive change in Oroville and beyond. Over the last 30 years, the team has been responsible for clearing over 150 tons of trash from the southside of Oroville and currently manages 100 beds of housing. This is a separate entity from The Father's House Church with some shared leadership. About Conscious Markets Group Conscious Markets Group, and its impact real estate investment management arm CMG Revival Partners LLC is an impact investment and community development advisory firm, with a management team having over 90 years of experience in financial services, community development advisory, non-profit and faith-driven advisory and civil engineering. Media Contact Phone: +1 (424) 703-5495 State: California Country: United States
