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  • HR2.10 Pima County Community Land Trust (PCCLT) Sustainable Housing Project

    Total Project Cost: $250,000
    Project Number: CCDHR5001
    Funding Sources: 2004 General Obligation Bonds
    Completion Date: June 2014
    Managing Dept.: Community Development
    Project Map: GIS Map

     The Pima County Community Land Trust (“Land Trust”), an Arizona nonprofit Westmorelandcorporation, received $250,000 G.O. Affordable Housing Program Bond Funds for the rehabilitation of five (5) single family homes owned by the Land Trust after acquiring them as abandoned and neglected foreclosures.
    Rehabilitation work incorporated environmentally efficient and energy saving standards as certified by the City of Tucson Green Remodeling Program Silver Standard.

    G.O. Bond funds were leveraged by NSP (Neighborhood Stabilization Program Funds) in the amount of $609,048 from the City of Tucson. Total development costs including acquisition and rehabilitation were $859,048.

    Qualified homebuyers completed homebuyer education, attended orientation provided by the Land Trust explaining the community land trust model, invested $1,500 cash, and met income limits (four under 80% of the Area Median Income and one under 65% of the Area Median Income).
    Each homebuyer purchased only the improvements (rehabilitated homes) with the underlying land leased by the Land Trust for a period of 99 years, the instrument by which the homes remain affordable. Sales prices did not exceed 95% of the fee simple values. Monthly housing costs shall not exceed one-third of the gross monthly income. None of the bond funds supplemented homebuyer down payment. Bond funds applied to rehabilitation costs only.