Two Rivers CLT acquires and rehabilitates existing homes and as funding permits creates new homes. We have sold our rehabilitated and new units to forty-seven households scattered across our geographic area. From Andover, Bayport, Blaine, Cottage Grove, Forest Lake, Oakdale, St Paul Park, Stillwater, to Spring Lake Park, our buyers find a reasonably priced home in good condition.
What Do We Do?
Create Modest, Quality, and Affordable Homes: Two Rivers CLT acquires and rehab existing houses and when possible constructs new homes.
Facilitate the Home Buying Process: Two Rivers CLT works with income qualified buyers to purchase a home by:
Continued Homeowner Support
· Answer property questions.
· Referrals to service providers for personal, household, and financial needs.
· Provide social and networking opportunities.
· Assist with the resale of the home.
What is a Community Land Trust?
Community land trusts (CLT) work with income qualified buyers to purchase new or renovated homes at a reduced price.
Ownership: The CLT owns the land under the house and the owner owns the home, similar to a condo/townhome development. Two Rivers CLT owners pay a $35 per month land lease fee.
Resale: In exchange for the lower purchase price, when the owner chooses to sell their home, they agree to take their earned equity plus 25% of the increase in the value of their home upon sale.