Neighborhood Development Senior Administrative Manager, Eunika Smalls spoke to affordable housing solutions; Community Land Trust (CLT) options; positive community engagement; and recognized Grounded Solutions Network consultant, Jason Webb.
Mr. Webb made a PPP; shared a video clip of the CLT program; spoke to CLT elements; to partnerships; to land ownership; to affordability; to the CLT model; highlighted established North Carolina CLTs; state-wide investments; outlined CLT data; challenges and opportunities; and homeowner protections.
Councilmember Thurm left the meeting at 2:45 p.m.
Mr. Webb spoke to mortgage products; to current values; reviewed appraisal guidelines; spoke to tax evaluations; reviewed mortgage options; legal agreement restrictions; market values; and home equity.
Discussion ensued regarding donated land ownership; and private developer inclusion.
Mr. Webb outlined the various phases of the program; emphasized the current stage of community outreach; explained a continuous consultant resource and support system; and spoke to donation of land and acquisition strategies.
Discussion continued regarding heir properties; proper estate planning; residency applications; restrictions for rental properties; program timelines; membership fees; continued local government investment; positive community meetings; financial lender collaboration; building guidelines and neighborhood designs; operational cost and sustainability; homeowner responsibilities; a membership driven structure; title insurance; and closing cost.
City Manager Jaiyeoba spoke to continued community outreach; and to a future update.
(A copy of the PowerPoint Presentation is filed in Exhibit Drawer F, No. 11, which is hereby referred to and made a part of these minutes.)