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Post-purchase Support for Homeowners and Long-term Maintenance of CLT Homes. Presenters: Etta Habegger, Thistle Community Housing Emily Higgins, Burlington CLT John Barros and Jason Webb, Dudley Neighbors, Inc. Community Land Trust Conference – Session 4 August 17, 2005.

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post purchase support for homeowners and long term maintenance of clt homes

Post-purchase Support for Homeowners and Long-term Maintenance of CLT Homes

Presenters:

Etta Habegger, Thistle Community Housing

Emily Higgins, Burlington CLT

John Barros and Jason Webb, Dudley Neighbors, Inc.

Community Land Trust Conference – Session 4

August 17, 2005

objectives of this session
Objectives of this session
  • Provide an overview of:
    • Post-purchase support of homeowners
    • Long-term maintenance of homes
  • Convey practices and solutions that may work for your CLT and homeowners
  • Discuss balancing CLTs’ stewardship with owners’ rights and responsibilities
  • Spark ideas that merit in-depth review within your organization, with buyers and owners, and with partners (e.g. other community groups/programs, funders, other CLTs)
guiding your work
Guiding your work
  • Be clear about how your organization sets, reviews and revises policies
    • Burlington CLT has a Resident Services Committee, made up of homeowners, including several who are Board members
    • Thistle Community Housing has a CLT Committee, made up of CLT owners and Board members
    • Both of these committees are overseen by the Board of Directors
possible areas of support and or homeowner clt interface
Possible areas of support and/or homeowner-CLT interface
  • Maintaining the relationship - proactive, ongoing communication
  • Financial – refinancing, delinquency, foreclosure, lease/membership fees
  • Property Taxes, Homeowners Association assessments – based on limited value
possible areas of support and or homeowner clt interface cont
Possible areas of support and/or homeowner-CLT interface (cont.)
  • Condition of the home & land – warranty administration, maintenance & repairs
  • Improvements to the home – whether or not your CLT grants qualified capital improvement credits
  • Occupancy – home is occupied in alignment with agreements
post purchase support for clt owners communication
Post-purchase Support for CLT Owners - communication
  • Proactive, ongoing communication is key with:
    • Individual CLT owners
    • CLT communities and homeowners associations – e.g. condominium and townhome complexes, cluster of CLT houses, mobile home park
    • Funders, other partners
communicating with individual homeowners
Communicating with individual homeowners
  • Annual meetings
  • Social Events – e.g. potlucks
  • Newsletters
  • Workshops – e.g. taxes, maintenance, repairs, etc.
communicating with clt communities
Communicating with CLT communities
  • Homeowner associations (HOAs)
    • Board of Directors role
    • Interface with HOA – staff time
  • Support neighborhood events – e.g. cleanups, block parties
post purchase support financial
Post-purchase support - financial
  • Refinancing – decide if allowed, how much maximum debt can be, process
  • Delinquency – develop relationships with owners and lenders to learn about it as soon as possible; determine capacity to deal with situations, support for owner (internal or through partner agency)
  • Foreclosure – same as delinquency steps, also - funds available to cure (protect asset)
post purchase support assessments
Post-purchase support - assessments
  • Taxes – some CLTs have separate tax bills and property valuation at limited amount – e.g. Portland and Boulder
  • HOA assessments – some association governing docs limit increases in dues and special assessments for CLT owners
post purchase support condition of home land
Post-purchase support – condition of home & land
  • Warranty administration – deal with this typically on new construction, as the developer or as advocate if “turnkey deal”
  • Maintenance – ongoing work by owner necessary; CLT’s work may include interface with HOAs as well as owners. Maintenance calendar, workshops, newsletter articles are helpful for owners.
  • Repairs/Rehab – CLT (or other agencies) can provide referrals to contractors, tool libraries, resources for rehab $ (from CLT or other entity)
post purchase support capital improvements
Post-purchase support – capital improvements
  • Decide how your CLT deals with all improvements – when is CLT’s permission needed, e.g. type of project, cost? What are the owners’ responsibilities?
  • Decide if your CLT will allow credit for capital improvements
  • If so, determine:
    • which type of projects get credit
    • the valuation method(s)
      • Possible valuation methods include: project value called out in appraisal, actual cost of project or contractor’s bid (all or %)
post purchase support occupancy
Post-purchase support – occupancy
  • Owner-occupied
  • Subleasing
  • Non-qualified occupants
  • Adding or removing owner(s) from the agreements with the CLT (when at least 1 homeowner remains)
  • Transfer of the home
long term maintenance of clt homes
Long-term maintenance of CLT homes

Why is this important?

  • For owners: affordability, livability, return on their investment
  • For CLTs: sustainability of specific assets and overall portfolio; this includes integrity of physical structures, reputation of CLT, funding options, short-term and long-term affordability
long term maintenance of clt homes1
Long-term maintenance of CLT homes

Challenges

  • Owner has limited tenure
  • Owner may have limited funds available
  • Owner may want to limit $ put into home because of limited return
  • CLT has limited funds for rehab
  • Home is at end of life cycle
  • Others?
long term maintenance of clt homes2
Long-term maintenance of CLT homes

Possible Solutions

  • Locate rehab $ that owner utilizes – sources may include reserve fund, revolving loan fund, forgivable loans or grants
  • CLT may buy back home and renovate or redevelop (depending on condition of building and funding options)
  • CLT sells asset on market and reinvests funds from sale into other CLT homes
  • Others?
where do we go from here
Where do we go from here?
  • Create more solutions – start/continue discussions and implement action plans for working with your owners, increasing funding and more sustainable building practices
  • Fill out your evaluations – give us feedback on this session and let conference planners know what topics you’d like to focus on in the future
  • Thank you for participating!
contact information for presenters
Contact information for presenters
  • John Barros, Dudley Neighbors, Inc., Boston, MA johnbarros@dsni.org
  • Etta Habegger, Thistle Community Housing, Boulder, CO ehabegger@thistlehousing.org
  • Emily Higgins, Burlington CLT, Burlington, VT

EHiggins@getahome.org

  • Jason Webb, Dudley Neighbors, Inc., Boston, MA jwebb@dsni.org