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.
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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