A guide to the 7th District Candidates
A guide to the 2016 Richmond VA Mayoral Candidates

visit_church_hill
24th_street_posted3

A look at the Maggie Walker Community Land Trust

July 25, 2016 7:38 am by

Justin Mattingly with Richmond.com has a look at the goals and process of the Maggie Walker Community Land Trust:

The land trust, a nonprofit created in November, would acquire properties from the city and in turn would enter into a 99-year lease with property owners. The trust would own the land, but homeowners would own the structures. Trust officials say that makes the housing more affordable while allowing for more income diversity in neighborhoods.

“Land trusts are a really effective tool for preserving affordability in a neighborhood so you have the mixed-income neighborhoods,” said Nicholas Feucht, a special assistant to Richmond’s deputy chief administrative officer for economic development and planning.

The Maggie Walker land trust hopes to be active in Church Hill and eventually branch out into other neighborhoods across the city.


TAGGED:

7 RESPONSES

By commenting you are agreeing to this site's PRIVACY / USE / COPYRIGHT / DISCLAIMER