Middle Keys Community Land Trust

1. Middle Keys Community Land Trust “Building Livable Communities – One Homeowner at a Time” Dale Carnegie Training® can help you manage the sweeping changes that continue to reshape the workplace. Organizations today need managers who are knowledgeable business partners skilled at managing change. As change agents, managers can play a vital role in helping their organizations remain competitive. Rely on the following process, and you will be more effective in managing organizational change. Be sure you have earned the right to deliver this program, are excited about the topic, and are eager to share with your audience. Speak from your own experiences. Set a good example. Help others benefit from what you have learned about managing organizational change.Dale Carnegie Training® can help you manage the sweeping changes that continue to reshape the workplace. Organizations today need managers who are knowledgeable business partners skilled at managing change. As change agents, managers can play a vital role in helping their organizations remain competitive. Rely on the following process, and you will be more effective in managing organizational change. Be sure you have earned the right to deliver this program, are excited about the topic, and are eager to share with your audience. Speak from your own experiences. Set a good example. Help others benefit from what you have learned about managing organizational change.

2. Housing Affordability: Our Community’s Challenge What we mean by Affordable Housing. Why focus on affordable housing? Is “affordable housing” really affordable? What are some of the challenges to constructing Workforce Housing What are some solutions? How the Middle Keys Community Land Trusts addresses housing affordability

3. What do we mean by Affordable Housing? Quality housing and dignified living conditions for working residents of all income levels. It is not a separate class or type of housing Land Trust homes on 73rd Street Housing that is affordable to people who work and contribute to our community. TT

4. Why Focus on Affordable Housing Strong Economy Business needs workers Stable workforce Increase in productivity, revenue Strong Communities Teachers, receptionists, nurses aids, travel agents, police officers

5. Why Focus on Affordable Housing Part II Out of Reach (Monroe County) Rentals 38% of the households Fair Market Rents (FMR) 2 bdrm = $852 3 bdrm = $1,174 Hourly Wage Needed to Afford FMR(at 40 hrs per week) 2 bdrm = $16.38 (318 %) 3 bdrm = $22.58 (438%)

6. Is “Affordable Housing” Really Affordable? Average selling price of a home (dry lot) $300,000 Median household income $36,000 HUD Median Income Guidelines Fannie Mae $36,000 income = $121,600 mortgage (Family of 4, 6% interest)

7. Is “Affordable Housing” Really Affordable? Part II $45,000 - $65,000 Income Levels $156,400 - $225,900 Mortgage 30% Housing Costs 8% Other Costs Cost Burdened; the new working poor

8. Challenges to Constructing Workforce Housing Supply & Demand Sharply constrained supply Large lot restrictions High parking ratios Income bifurcated workforce Location, location, location

9. Challenges Part II Cost of construction Land values due to market demand Limited ROGO allocations Limited acquisition funding Land Use Regulations Second/vacation homes

10. Solutions: Community Involvement Support community-based, Non-Profit housing organizations; Regulatory changes Provide Leadership Business Community Local faith communities Funding partnerships Public, private and non-profits Local, state, federal

11. Employer Assisted Housing Employer-Assisted Housing (EAH) employee benefit used w/Fannie Mae mortgage products. Employers can offer an EAH benefit to meet one or more of the following goals: recruitment retention revitalization return to the bottom line recognition for the company

12. Employer Assisted Housing Fannie Mae helps all types of companies -- customize and offer an EAH benefit.Common EAH Benefitsgrants, forgivable loans, deferred or repayable loans, matched savings, interest-rate buydowns, and shared appreciation Typical Usesdown payments, closing costs, and interest rate buydowns.Getting Started Call Fannie Mae's Consumer Resource Center at 1-800-7Fannie (1-800-732-6643) and request an EAH Information Packet.

13. Middle Keys Community Land Trust How does the Middle Keys Community Land Trust (MKCLT) address housing affordability? - Who are we? - Where are we going?

14. What are Community Land Trusts? Community Land Trusts (CLT) are nonprofit organizations that provide homeownership and rental opportunities for underserved families by: Acquiring land and retaining title to it Selling improvements ONLY, subject to 99-year renewal “ground lease”, at deeply subsidized prices Guaranteeing long-term affordability of the homes through resale and income restrictions

15. Who Benefits from Community Land Trusts? Working families in high-cost areas, as well as resort communities Communities experiencing rapid home price appreciation leading to displacement of working families.

16. Community Land Trust Address Affordability To provide affordable home ownership and rental opportunities Build better communities Encourage strong neighborhoods Create stability Keep homes affordable in perpetuity Goals help you focus on specific achievements that will bring you to the overall vision. Your goals should be challenging but realistic. Express goals in terms that are measurable, so that you can tell when you have achieved them. Use multiple slides if necessary to communicate your goals clearly and distinctly In essence, as a change agent, you must inspire others to believe that they can change and motivate them to take action. Emphasize the importance of continuous progress and making goal-setting a part of managing organizational change.Goals help you focus on specific achievements that will bring you to the overall vision. Your goals should be challenging but realistic. Express goals in terms that are measurable, so that you can tell when you have achieved them. Use multiple slides if necessary to communicate your goals clearly and distinctly In essence, as a change agent, you must inspire others to believe that they can change and motivate them to take action. Emphasize the importance of continuous progress and making goal-setting a part of managing organizational change.

17. Community Land Trusts Support Affordable Housing Preservation “The CLT form of homeownership represents the only true affordable housing preservation strategy for single-family for-sale housing” – Fannie Mae CLTs control housing costs by permanently limiting land costs and locking in subsidies to benefit one homeowner after another, eliminating the need to secure additional subsidies upon each resale.

18. CLT: A Simplified View The homebuyer will own the buildings, structures, fixtures and improvements CLT owns and leases the purchase with leasehold mortgages Lenders finance the home purchase with leasehold mortgages

19. Leasehold Interest: The right to the use and occupancy of real property by the existence of a lease agreement. The agreement includes: A stipulated period of time and renewal terms/options Cost associated with the lease Resale restrictions Other terms

20. Resale Restrictions: Shared Appreciation Goal: Permanent Affordability Method: Limited Equity Provision Reasoning: All agree that… homes should be affordable without the CLT structure could not purchase a home In exchange for opportunity agree to pass it on Type: Index based

21. Benefits: Owner/Leaseholder Ability to Use and improve the property Claim Tax Deductions Right to Sell and Profit Will to Survivors A Place to Call Home

22. Who is the Middle Keys Community Land Trust? Membership Organization Affordable Housing Advocates Public Agencies City of Marathon Sheriff’s Department Department of Community Affairs Monroe County Owners/leaseholders Land Trust renters Other non-profits Local Business & Community members Non-Profit 501(c)(3) corporation Once you’ve communicated where you want to go, estimate how close you are to achieving the vision. Identify strengths of the organization. Also note areas where improvements must be made to bring you closer to the vision. Be sure to include the “As Is” of leadership strengths and areas for improvement. Organizations don’t change, people do.Once you’ve communicated where you want to go, estimate how close you are to achieving the vision. Identify strengths of the organization. Also note areas where improvements must be made to bring you closer to the vision. Be sure to include the “As Is” of leadership strengths and areas for improvement. Organizations don’t change, people do.

23. Middle Keys Community Land TrustMission Statement “To create quality housing for the low to moderate income residents of our Keys Community, who provide vital services, and who cannot presently afford today’s costs for shelter.” Start by articulating a clear vision of what your organization should be. Present the vision clearly, and explain why it is important for your organization to achieve this vision. Include a picture of the leadership skills this vision will require. For example, global thinking, strategic partnering, etc.Start by articulating a clear vision of what your organization should be. Present the vision clearly, and explain why it is important for your organization to achieve this vision. Include a picture of the leadership skills this vision will require. For example, global thinking, strategic partnering, etc.

24. Costs $140,000 - $175,000 with $0 down payment (First Time Homebuyers Program); or Traditional 3% down payment; or $500 down payment (Fannie Mae CLT product) 6 -7% interest rate Build equity Owner can take tax deduction Your plan will have costs, both financial and in terms of time and effort. Estimate the costs as closely as possible, and justify the costs with benefits.Your plan will have costs, both financial and in terms of time and effort. Estimate the costs as closely as possible, and justify the costs with benefits.

25. Objectives Provide homeownership opportunities Fifteen new affordable homes ready for occupancy. Create community partnerships and encourage volunteers Public Private Acquire additional sites for: Multi-family townhomes Single-family homes Schedule regular follow-up periods to track issues and monitor progress. Ensure that there are lines of communication between everyone who is responsible for a part of the plan, so that issues are communicated and resolved in a timely manner.Schedule regular follow-up periods to track issues and monitor progress. Ensure that there are lines of communication between everyone who is responsible for a part of the plan, so that issues are communicated and resolved in a timely manner.

26. Thank you Middle Keys Community Land Trust’s mission is to create livable communities…one homeowner at a time. How can you help? - Become a member - Make a tax deductible donation. - Volunteer “And let us not lose heart and grow weary in acting nobly and doing right, for in due time and the appointed season, we shall reap if we do not loosen our and relax our courage and faint.” -- Ephesians Paint a vivid picture of the new and improved organization. Be sure to include your audience enjoying the rewards of the change in your picture.Paint a vivid picture of the new and improved organization. Be sure to include your audience enjoying the rewards of the change in your picture.