Mayor Scott to announce $4 million in grant awards for affordable housing
BALTIMORE — Mayor Brandon Scott announced $4 million in grant awards to Community Land Trusts (CLTs) in the city, to support affordable housing, Friday afternoon.
The grant recipients include the NEHI Community Land Trust, Charm City Community Land Trust, Harbor West Collaborative Affordable Housing Land Trust, and South Baltimore Community Land Trust.
Since its inception in 2019, the Baltimore City Affordable Housing Trust Fund has provided over $8 million to the Community Land Trust movement, supporting over 13 affordable-housing projects and more than 120 units of housing, the Mayor said.
The land-trust model is a nationally-proven means of creating homeownership opportunities for households earning 50 percent or less of the Area Median Income.
Under the land-trust model, a nonprofit organization owns the land and sells the home to qualified buyers at a below-market price. The land trust's ownership helps to ensure that the home will remain affordable for 99 years.
