The Frederick County Affordable Housing Land Trust (FCAHLT) is the first community land trust in the State of Maryland. It received the Innovation Award from the Community Development Network of Maryland in 2016 for its trailblazing efforts to create long-lasting affordable housing units for families in need of affordable homeownership solutions.
Through this program, Habitat for Humanity of Frederick County, MD obtains properties throughout the county that are vacant or in disrepair and available at a low cost. New homes are built, or existing homes renovated by volunteers and local partners for resale as affordable housing units to income qualified buyers. The Land Trust retains ownership of the land, reducing the purchase price to the future homeowner. Through a 99-year renewable lease, the homeowner pays a monthly ground rent to the Land Trust.
Land Trust homeowners are able to sell their home at a price set by the Land Trust, and receive a percentage of equity earned during the ownership period. The home is then sold to a new qualifying future homeowner at a below market price. Through this model, Land Trust homes remain affordable in perpetuity.
