Turning a Foreclosed Community Into A Sustainable Neighborhood

In the housing crash of 2007, Atlanta's Pittsburgh community was a focal point for mortgage fraud, mortgage defaults, and foreclosure. By forming a nonprofit community land trust, Atlanta is working to turn the neighborhood around.
April 7, 2011, 1pm PDT | Matthew Brian Hersh
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Mtamanika Youngblood and Harold M. Barnette write an extensive analysis for shelter force on how the nonprofit community land trust (or CLT) is working:

"The vision for the Pittsburgh CLT was generated by community stakeholders who wanted to see "the construction of quality new homes, a variety of commercial services and retail outlets, clean and safe public spaces, high quality schools, and well maintained homes and buildings." The CLT was originally conceived as a freestanding, nonprofit organization that would operate alongside PCIA, which was charged with facilitating its development. The CLT was to have an independent board with a majority of its members appointed by a fiscal agent. This arrangement would necessitate a third-party organization to perform administrative and fiscal duties for the CLT's first three years of operation. It was anticipated that a team of consultants would perform the administrative and fiscal duties."

Thanks to Matthew Brian Hersh

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Published on Monday, March 14, 2011 in Shelterforce
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