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Movin’ Out Movin’ Out is a state-wide nonprofit that offers housing services for low-income adults with disabilities and families that include children with disabilities. Services include homebuyer and renter counseling, including accessibility planning and safety modifications; homebuyer education; and housing development for both owner- and renter-occupied units. Movin’ Out partners with other developers to develop housing that includes some units marketed to people with disabilities. To date, Movin’ Out has helped bring 166 units reserved for people with disabilities onto the market. Uses: New accessible construction, accessibility retrofits, homebuyer education Funding Source: Movin’ Out, developers
Madison Development Corporation Madison Development Corporation (MDC) is a non-profit that owns and manages 313 affordable housing units in the Madison area and provides loans for hard-to-finance businesses (e.g. neighborhood businesses, startups, and high-tech firms with high growth potential). MDC renovates existing properties, as well as develops new apartment buildings and townhomes. The majority of rents charged by MDCare are on a sliding scale based on household income of tenants. Uses: New construction, renovation, management Funding Source: Madison Development Corporation
Community Land Trusts Community land trusts are nonprofit, community-based organizations designed to ensure community stewardship of land. Community land trusts can be used for many types of development (including commercial and retail) but are primarily used to ensure long-term housing affordability. To do so, the trust acquires land and maintains ownership of it permanently. With prospective homeowners, it enters into a long-term, renewable lease instead of a traditional sale. When the homeowner sells, the family earns only a portion of the increased property value. The remainder is held by the trust, preserving the affordability for future low- to moderate-income families.9 Uses: New construction, homeownership, renovation Funding Source: TIF, existing land sales, private funds, affordable housing trust fund
Community Land Trusts Case Study: Troy Gardens – Madison, Wisconsin Troy Gardens is a 31-acre site owned by the Madison Area Community Land Trust (MACLT). The site specializes in agricultural education, gardening, urban faming and healthy eating. MACLT worked with the City of Madison on funding for acquisition and construction of the site. Troy Gardens includes a five-acre community supported farm, community gardens, natural areas and 30 units of mixed-income housing. Twenty units are lowmoderate income units and ten are market rate units. Each year approximately 1-3 units turn over to a new homeowner http://affordablehome.org/troy-gardens-2/
9 http://www.lincolninst.edu/publications/articles/community-land-trusts