LLC CLT HOA NFP CPI

Here at the home of abbreviation we are mucking through a slurry or letters trying to decide the best way to legalize land ownership for our community. What finally spurred us on was the possibility of people we love joining the community. We wanted to be sure that everyone was individual protected, that the integrity of the community and land was protected, and that, if necessary, our prospective members could secure financing for renovation or construction of a new home. We have all taken on a bit of the research and are finally close to a decision. It seems that the CLT (Community Land Trust) model is the most appealing, but also more complicated and less familiar to lending institutions than a regular 'ol LLC (Limited Liability Corporation). Many other communities we contacted were very helpful in explaining why they chose a condo, or coop, or not-for-profit or the like. It seems many different models can be made to fit similar purposes. However, the one thing the CLT does that we all like is create affordable housing for the long term. As we get closer to choosing out three letter post-script, we are also finding that making a decision about our legal structure also means defining what we are about as a community.