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01/14/2002 CONF MTG - 4734� � CffY OF FRIDLEY CITY COUNCIL CONFERENCE MEETING J�u� i4, Zoo2 - �:oo P.�. Fridlep Municipal Center Meeting Room 1 (Lower Level) Community Land Trust. (Meeting with Housing and Redevelopment Authority.) 2. Presentation by Springbrook Nature Center Foundation. 3. Other Business. 4. Adjourn. .� � f CITY OF FRIDLEY INFORMATIONAL ITEM CITY COUNCIL / HRA MEETING January 14, 2002 Date: January 10, 2002 To: William Burns Ci Mana er #� , �v 9 ,� From: Scott Hickok, Community Development Director Grant Fernelius, Assistant HRA Director Paul Bolin, Planning Coordinator Subject: Introduction Background Information on the Community Land Trust (CLT) Model M-02-03 Last December, staff received an inquiry from several members of the City Council about Community Land Trusts (CLTs). This is a relatively new approach to addressing the issue of affordable housing and staff has spent the last several weeks collecting information on the topic. CLTs have broad policy implications for both the City Council and HRA and therefore it seems appropriate to discuss the topic in a joint work session. The goal for Monday night is to outline what we have learned about the topic and obtain feedback from the Council and HRA on whether we should pursue the matter further. What is a community land trust (CLT)? A community land trust is a private non-profit corporation created to acquire and hold land for the benefit of a neighborhood and the community at large. The goal of a CLT is to provide affordable access to land and housing for a community over the long term, by removing the upfront land cost from the housing cost equation. CLTs protect a community's long-term interests by owning the land and then leasing it to individuals, homeowners' co-ops or other groups. The land's leaseholder owns their home and other improvements, such as garages or sheds. The specific terms of the agreement between the CLT and homeowner are defined in a long-term lease, usually a 99-year term. The monies paid to lease the land are generally used by the CLT to cover property taxes on the land and some administrative costs. �- Community Land Trust Memo January 11, 2002 Page 2 CLTs ensure affordability for future land leaseholders by controlling the sale price of buildings and other improvements on their land. CLT lease agreements are structured such that the CLT retains an option to repurchase the home, if a resident chose to sell, at a limited price. Lease agreements also include a formula for determining the price that leaseholders can sell their improvements to others. It is quite common for the agreement to allow the seller to receive only up to 25% of the appreciated value, thus keeping the improvement affordable. There are approximately 88 CLTs located in the United States. There are currently 8 CLTs, operating or in the start up phase, in Minnesota. More detailed information on CLTs is provided in the attachments to this memo. Whv are we discussinq this? City staff is not, at this time, advocating any position on this issue. Community Development and Krass Monroe staff have researched and compiled this information so the Council and HRA can determine whether or not the City should add the CLT model to their "housing toolbox". Staff hopes to gain some consensus at Monday night's meeting on the Counci! / HRA's position on addressing affordable housing needs in general. Specifically, staff hopes to gain consensus from the group on the following questions: • Should the City of Fridley be working to address affordable housing issues or should we sit back and wait for a Federal or State fix to the problem? • Should the City of Fridley pursue the CLT model as a possible means to addressing the affordable housing issue? • Should the City of Fridtey take an active role in setting up a CLT or wait for a grass roots organization or existing non-profit to take the lead? • Should the City of Fridley HRA develop a"knock-off' of the CLT model that would combine the Scattered Site Acquisition Program with a land lease program? What's with all the attachments? The attachments provide you with the most detailed and pertinent information available on the CLT model. The first attachment is the outline of Monday night's presentation by Jim Casserly and Clarissa Klug of Krass Monroe. The buik of the attachments provide specifics on CLTs and how they function. This information is provided by the Institute for Community Economics, the national authority on CLTs, who developed the CLT model in the 1960s. Also included in the attachments is the 2001 Annual Report for the Two Rivers CLT located in Washington County. We look forward to a healthy discussion on Monday night! Land Trust Overview Prepared for the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota by Krass Monroe, P.A. James R. Casserly, Esq. Clarissa M. Klug, Esq. I. "Classic " Trust Model A. Key Concepts 1. Land and building ownership is divided a. Occupant owns home b. Trust owns land, provides long-term lease to occupant i. Lease term is typically 60 to 99 years ii. Lease structure is typically based on a model form used nationally iii. Individuals/families who lease from the trust are at or below a set income level iv. Income level served is typically based on % of area median v. Lease rights are generally inheritable (1) Heirs specified in lease (typically only close fanuly members) can inherit regardless of income level (2) More distant family members (and other beneficiaries) must meet required income level iv. Subleasing is typically very limited or not allowed 2. Resale of home must conform to a specific sale price formula a. Permanently preserves affordability of land b. Allows homeowner to retain some (but not all) of the increased mazket value of the home at resale c. Formula variations include: i. Appraisal (sale price is % of appraised value) ii. Indexed (sale price is tied to changes in income, inflation, or other index) iii. Itemized (sale price is adjusted based on a variety of factors such as value of home improvements, market inflation, etc.) iv. Mortgage (sale price is limited to a level that will allow a particular income level to afford monthly mortgage and insurance payments) B. Trust Structure is typically a new non-profit corporation C. Governing Board Composition/Activities 1. Generally 3 types of board members a. Trust land residents b. Residents of land neighboring trust land c. At-large members from greater community area 2. Board typically oversees areas beyond land acquisition/management a. Educating prospective buyers on trust and resale concepts b. Establishing ongoing homeowner education programs, maintenance/improvement loan funds, etc. II. Funding Sources A. Private Foundations B. Local, State, & Federal Grants/Loans C. Land Contributions (Private Or Government) D. Monetary Donations From Individuals E. Tax Increment Financing III. Strategy/Policy Issues A. Geographic Scope B. Type(s) Of Homes (Single Family, Multi-Family, Co-Op, Etc.) G Income Levels Served D. Acquisition Strategy (Rehab, Ready for Move-In or Land for New Construction) E. Lease Structure/Ongoing Management F. Strategy For Home Mortgage Defaults IV. Community Land Trusts in Minnesota A. Rondo (St. Paul) Is Oldest B. Duluth C. West Hennepin D. Two Rivers (Washington County Area) E. Rochester F. Minneapolis, Cannon Valley & Eastem Suburb Areas Had Trusts Under Consideration As Of Fall 2001 Institute for Community Economics: The CLT Model Page 1 of 4 1' � / i ' - � � - The Community Land Trust Model What is a CLT? Why a CLT� Important features of a CLT What is a CLT? A community land trust (CLT) is a democratically controlled nonprofit organization that owns real estate in order to provide benefits to its local community - and in particular to make land and housing available to residents who cannot otherwise afford them. CLTs have been established in different kinds of communities, with different kinds of projects meeting different community needs, but they share some impo�tant features, including a distinctive approach to the ownership of real estate, and a distinctive approach to community-based govemance. � A Distinctive Approach to Ownership... ACquiring Land for the Community. Sometimes CLTs acquire vacant land and arrange for the development of housing or other structures on it. At other times, CLTs acquire land and buildings together. In both cases, CLTs treat land and buildings differently. The land is held permanently by the land trust so that it will always benefit the community. Buildings can be owned by those who use them. Homeownership on Community Land. Buildings on CLT land may serve different needs, but, when possible, CLTs help people to own their own homes on this land. When a CLT sells homes, it leases the undertying land to the homeowners through a long-term (usually 99-year) renewable lease, which gives the residents and their descendants the right to use the land for as long as they wish to live there. Still Affordable for the Next Homeowners. When CLT homeowners decide to move out of their homes, they can sell them. However, the land lease requires that the home be sold either back to the CLT or to another lower income household, and for an affordable price. A Distinctive Approach to Governance... Membership organization. CLTs are usually organized as "membership corporations," with boards of directors elected by the members. Usually there are finro groups of voting members. One group is made up of all the people who live in CLT homes (or use CLT land in other ways). The other group is made up of other people in the community who are interested in what the CLT is doing - including neighbors of CLT residents, and people who may want to have CLT homes in the future. http://iceclt.org/clt/cltmodel.html 1/9/02 Institute for Community Economics: The CLT Model Board structure. Usually the CLT board includes three kinds of directors - those representing resident members, those representing members who are not CLT residents, and those representing the broader community interest. In this way, control of the organization is balanced to protect both the residents and the community as a whole. Why a CLT? In Growing Communities... In many communities today population growth and economic investment are driving up real estate prices so that fewer and fewer working people can afford to live in the communities where they work. Fewer still can afford to buy homes in those communities. Limited public funds are available to subsidize housing costs for lower income households, but the gap between the amount of subsidy needed and the amount of subsidy available continues to widen as housing costs soar. To address this problem, community land trusts are being developed in a growing number of communities - in expanding metropolitan areas from Cleveland, Ohio to Portland, Oregon; in university communities from State College, Pennsylvania, to Boulder, Colorado; in expensive resort communities from the Florida Keys to the San Juan Islands of Washington State and in many other communities as well. These CLTs control housing costs by permanently limiting land costs and "locking in" subsidies so that they benefit one homeowner after another and do not need to be repeated each time a home is sold. And in Disinvested Neighborhoods... The problems of low-income neighborhoods typically revolve around disinvestment and absentee ownership. As homeownership declines older buildings are likely to be bought by absentee investors who allow the buildings to deteriorate while charging high rents. The rent paid to these absentee owners Jeaves the community. It is not saved by the residents, not spent in local stores, not used to improve the community. If residents do organize themselves to improve their neighborhood, it will be the absentee owners who will reap the benefits of increased property values. Through a CLT, however, residents themselves can capture the value they create so that it benefits their own community rather than absentee investors. For instance, when residents of Boston's Dudley Street neighborhood organized to rebuild their community, they decided to establish a CLT so they would not ever lose control of what they had worked to build. Their slogan was "Take a Stand, Own the Land." Important Features of a CLT • Acquiring Land for the Community Sometimes CLTs buy undeveloped land and arrange to have new homes built on it; sometimes they buy land and buildings together. In either case, the CLT treats land and buildings differently. CLT land is held permanently - never sold - so that it can always be used in the community's best interest. Buildings on CLT land, however, may be owned by the residents. Page2of4 '• http://iceclt.org/clt/cltmodel.html 1/9/02 Institute for Community Economics: The CLT Model • Access for Low-Income People The CLT provides access to land and housing for people who are otherwise priced out of the housing market. Some CLT homes are rented, but, when possible, the CLT helps peopie to purchase homes on affordable terms. The land beneath the homes is then leased to the homeowners through a long-term (usually 99-year) renewable �ease. Residents and their descendants can use the land for as long as they wish to live there. • Prices Stay Affordable When CLT homeowners decide to move, they can sell their homes. The land lease agreement gives the CLT the right to buy each home back for an amount determined limited by the CLTs resale formula. Each CLT designs its own resale formula - to give homeowners a fair return for their investment, while keeping the price affordable for other lower income people. • Owner-Occupancy Preserved The land lease requires that owners live in their homes as their primary residences. When homes are resold, the lease ensures that the new owners will also be residents - not absentee owners. • Multi-Family Buildings A CLT can work with various ownership structures for multi- family buildings. The CLT itself may own and manage a building as rental housing, another non-profit may own it, or the residents may own it as a cooperative or as condominiums. In each case, the CLT will ensure long-term affordability. • Helping New Homeowners CLTs can provide a variety of training opportunities and other services to first-time homeowners, and can provide crucial support if homeowners face unexpected home repairs or financial problems. In these cases the CLT can often help residents to find a practical solution, and may help to make necessary financial arrangements. • A Flexible Approach CLTs have been established to serve inner-city neighborhoods, small cities, clusters of towns, and rural areas. A CLT working in a small city neighborhood may be the only local housing group, though it may collaborate with citywide and regional organizations. Other CLTs, serving larger geographical areas, may work closely with a variety of local organizations. CLTs may develop housing themselves or may hold land beneath housing produced by other non- profit (and sometimes for-profit) developers. A CLT may build new homes, rehabilitate older homes, or acquire existing housing that needs little or no renovation. Some CLTs have bought mobile home parks to provide long- term security for mobile home owners: Page 3 of 4 http://iceclt.org/cldcltmodel.html 1/9/02 Institute for Community Economics: The CLT Model In addition to providing affordable housing, CLTs may make land available for community gardens, piaygrounds, economic development activities, or open space, and may provide land and facilities for a variety of community services. In rural areas, CLTs may hold land for gardens, farming, timber and firewood, and may hold conservation easements to protect open space and ecologically fragile areas. • Who Controls a CLT? A CLT is ultimately controlled by its members. All CLT residents are members, and other people in the community may also join. The members elect the CLTs Board of Directors. Usually there are three kinds of directors on the Board - those representing resident members, those representing members who are not CLT residents, and those representing the broader public interest. In this way, control of the organization is balanced to protect both the residents and the community as a whole. http://iceclt.org/cldcltmodel.html Page 4 of 4 1/9/02 � THE COMMUNITY LAND TRUST MODEL Questions and Answers by the Institute for Community Economics 1. What is a cornmunity land trust? A community land trust is a private non-profit corporation created to acquire and hold land for the benefit of a community and provide secure affordable access to land and housing for community residents. In particular, CLTs attempt to meet the needs of residents least served by the prevailing market. CLTs prohibit speculation and absentee ownership of land and housing, promote ecologically sound land-use practices, and preserve the long-term affordability of housing. 2. What makes a CLT distinctive? Several things - here are five: Commitment to Local Control. CLTs are initiated to provide greater local control over land and housing ownership. The CLT is a membership organization with members drawn from the land-trust leaseholders and the wider community. CLT members elect a governing board that includes leaseholders, nonresident members and others who represent the broader community interest. Dual Ownership. The way in which the CLT protects the community's long-term interests is by continuing to own land while conveying the long-term use of the land to individuals, cooperatives or other entities. Leaseholders own their homes and other improvements. Terms of the arrangement between a CLT and an owner using the land are defined in a long-term lease. The land trust offers leaseholders security, an opportunity to transfer the lease to their heirs, and full rights of privacy. Protects Long-term Affordability of Housing. CLTs protect affordability for future residents by controlling the sale of buildings and other improvements on their land. Specifically, the CLT retains an option to repurchase these improvements -- if residents choose to sell -- at a limited price. The CLT lease agreement includes a formula for calculating this price that offers resident-owners fair compensation for their investment. (Their share does not include value from market appreciation of the CLT's investment in the land or buildings.) In this way the CLT preserves the community's investment of public and private resources (time, treasures and talent) that go into creating a CLT and making housing affordable. An Ongoing Development Program. CLTs are not generally focused on a single project. CLTs are committed to an active acquisition and development program that attempts to meet diverse community needs. Flexibility. CLTs can accommodate a range of specific programs while providing a focus for community organizing. A CLT can help create and preserve such critical local resources as affordable housing, family farms, neighborhood businesses and social services while establishing land-use controls that p�otect the long-term interests of the community. Although CLTs generally p�omote resident ownership and management, a CLT may also develop and preserve needed rental housing. 3. How are CLTs different from conservation land trusts? They are similar in many ways. Both CLTs and conservation land trusts control land use for the benefit of people in the future as well as the present, but they tend to be concerned with different types and uses of land. Conservation trusts are primarily concerned with controlling rights to undeveloped land in order to preserve open space, ecologically fragile or unique environments, wilderness, or productive forest or agricultural land. CLTs, on the other hand, are primarily concerned with acquiring developed or developable land for specific community uses -- particularly residential use. These concerns are not mutually exclusive, and some land trusts combine these purposes, preserving some land in a natural state while leasing other land for development. All land trusts have an ethic of land stewardship; they try to see that land is not developed or used inappropriately. 4. How does a CLT help residents? By providing access, affordability, assistance and security. CLTs use various kinds of subsidies to make housing and land use more affordable for people who cannot compete in the market. CLTs keep housing affordable for future generations by controlling the price owners receive when they sell their homes. CLTs might assist residents with home repair, rehabilitation and/or financing. The CLT's lease offers residents and their heirs long-term security. 5. Are CLTs supported by local governments? Yes. Though some of the �rst CLTs were started in communities suffering from government neglect, it is now more common for CLTs to work in cooperation with local governments in meeting present and future community needs. Public officials are recognizing that CLTs can play an important role as stewards of community resources -- that property and funds allocated to a CLT can benefit not only present community members but future residents as well. Some CLTs have been established with strong initiative and support from local governments. A number of municipalities have allocated Comrnunity Development Block Grant and HOME funds, as well as other available resources, to CLT programs. Some have allocated city owned land. State housing financing agencies are increasingly interested in making financing available for housing on CLT land, and several state legislatures have acted to appropriate special funds to finance acquisitions by land trusts. Return to too CLT MEMBERS & LEASEHOLDERS 6. How do people join a CLT? Each CLT develops its own membership criteria. Most CLTs reqaire an annual membership fee of a few dollars and expect members to attend at least an orientation session or a general meeting. 7. How are CLT homeowner/leaseholders selected? Each local CLT develops its selection criteria based on local needs and resources available. When possible, occupants of buildings acquired by a CLT are given the opportunity to stay as homeowner/leaseholders or renters. Applicants for vacant units are normally judged on the basis of need, commitment to the CLT, and ability to make the necessary payments and handle other responsibilities of homeownership. 8. How much control do I give up by not owning the land beneath my house? Leaseholders -- homeowners, farm owners, or business owners -- retain most of the rights and responsibilities that go with ownership. CLT control is generally limited to areas where the CLT has a long- term interest. For example, it is vital to the CLT to preserve affordability of housing units. Most leases also prohibit absentee ownership of housing because it is generally not in the community interest. Also, CLTs want to protect the condition of the land and buildings which would be left at the end of the lease term. 9. What kind of support does a CLT provide for first-time homeowners? A CLT does not leave new homeowners to sink or swim on their own. The ability to provide support depends on the resources available to each local CLT. Some CLTs provide homeowner training and assistance. CLTs serving cooperatives have assisted with back-up management services, such as financial management, arbitration, and resident training and selection. Some CLTs have developed home repair loan funds and have made special arrangements for leaseholders who face unexpected financial problems. Return to toa FINANCING 10. How does a CLT acquire property? CLTs buy or receive gifts of property. If properly constituted, a CLT is a nonprofit, tax-exempt organization, which can use a variety of tools to lower the cost of acquiring property. CLTs sometimes receive donated property or donations to buy property, but an active CLT must be able to buy property and pay for the rehabilitation or construction of housing -- and it must be able to borrow money to do so. CLTs have received loans from socially responsible investo�s -- directly or through intermediaries such as community loan funds and ICE's Revolving Loan Fund -- to finance acquisition and construction. Normally they can arrange long-term financing from other sources. ii. Will banks and other financial institutions make loans for homes on leased land? Yes. There are dazens of banks, housing finance agencies and other mortgage lenders who lend to CLTs. When first approached, lenders may be concerned that a CLT will inhibit their ability to foreclose in the event of a default and make it difficult to remarket the property in a timely manner. CLTs have been able to negotiate mortgage agreements that address the legitimate concerns of lenders and also protect the CLT's long-term interest in the property by allowing the CLT to step in and cure a default, when necessary, to prevent the property from being sold on the open market. 12. How does a CLT make homeownership affordable? CLTs have no magic method of creating the initial affordability in housing. The greatest advantage of a CLT is its ability to preserve affordability for future generations. Nonetheless, a CLT can use a variety of tools to make housing affordable. CLTs have arranged financing forpeople who cannot qualify for home mortgages from conventional sources. Other CLTs have worked to minimize the hurdle of large downpayments for first-time homebuyers by creating a downpayment loan pooL Residents generally must be able to handle monthly mortgage payments and other costs (including reasonable lease fees for use of the land). Return to toa SELLING A HOME AND EQUITY 13. What happens if a leaseholder wants to move away from the CLT? After giving the CLT adequate notice, a leaseholder may sell the improvements to an eligible buyer, transfer the lease, and move away. Since CLTs commonly retain an option to buy all improvements on CLT land, a leaseholder who wishes to leave may sell his/her house to the CLT. The CLT will, in turn, sell this house and lease the land to a new leaseholder. 14. How is the resale price of a home determined? Each CLT has a formula that will determine the maximum amount to be paid when a homeowner sells his or her home. The formula may take into account the value of improvements made by the homeowner, and it may allow the price to be adjusted for inflation. Generally, the aim is to give the homeowner a fair return while limiting the price to insure the home will be affordable for the next low-income owner. 15. Why bother with resale formulas? Why doesn't the C�T simply allow leaseholders to sell their houses on the open market for whatever price they can get? A resale formula keeps housing affordable for future leaseholders. If land is removed from the marketplace, but not the buildings that are on the land, then the speculative value that would have been accrued to the land is merely transferred to buildings on the land. Furthermore, if housing is in short supply, then residential structures become the object of intense speculative activity. The real estate market pushes prices higher, making access to land and housing more difficult for persons of modest means. Also, in many cases, the owner has bene�ted from various kinds of public or community subsidies made available with the understanding that the value of these subsidies would remain in the property. By allowing only a fair return on owner investment, the CLT locks subsidies in for the benefit of future residents of the community. Return to to� MULTI-FAMILY BUILDINGS 16. How does a CLT deal with multi-family buildings located on CLT land? In one of four ways: co-op, condominium, single owner-occupant, or rental. Most CLTs try to help all residents of a building organize so they can own the building together as in a cooperative or condominium. Until this can be organized -- or if the residents do not choose ownership -- the CLT itself may own the building and lease the units to occupants. In some cases a CLT may sell a multi-family building to one of the occupants, with an agreement that the other units will then be rented to low-income people on a permanently affordabie basis. 17. How are CLTs different from (imited-equity cooperatives? Both types of organization attempt to protect the long-term affordability of housing. However, they deal with the ownership of land in different ways; they control transfer costs differently; and the organizations are controlled by different types of inembership. The membership of a housing co-op is generally limited to those who live in the housing. ]ointly, the residents own and control their own housing and, often, the land on which it is located. CLT leaseholders also own and control their own homes, but the land belongs to the CLT, which is controlled by a membership not limited to the leaseholders. CLT membership is open to residents of the larger community who have no personal financial stake in CLT properties. The housing co-op limits equity internally, through its bylaws and through leases for individual units within the co-op. A limited-equity co-op may itself be a leaseholder on CLT land. A number of CLTs have helped residents of multi-family buildings purchase their building as a cooperative with the CLT owning the land. The CLT can strengthen co-ops by providing a structure for mutual support. Also, the lease agreement prevents co-op members from amending their bylaws to remove limitations on the sale of their co-op shares, and in this way, the CLT provides greater assurance that the co-op's housing will remain affordable for low-income people. Return to tou ORGANIZING ISSUES 18. How does a CLT define its "community"? How large a community should a CLT serve? CLTs usually decide upon a geographic area from which most mem6ers will be drawn. This may be a region, a county, or a neighborhood. Three considerations commonly guide organizers of a CLT when they define the CLT's "community": (1) Does something already bind the people of a certain area together -- a common land or housing problem; a shared sense of common boundaries, marking one area as distinct from another in the minds of local �esidents? (2) Is there a "critical mass" for organizing a CLT -- enough people, available land, and/or housing opportunities to accomplish its goals? (3) On the other hand, is the area small enough to encourage grassroots participation in the CLT's activities? There is no single way to define a"community". Different CLTs will serve communities that differ in size -- a sparsely populated rural county may have only one CLT, a large city may have severaL 19. How are CLTs established and by whom? There is no single "right" way. CLTs have been established in response to different local situations by a variety of groups: neighborhood associations, religious coalitions, community development corporations, local governments, and groups of concerned citizens. Regardless of the kind of group, organizing a CLT involves a concerted effort to familiarize the community with the CLT concept and to develop grassroots support and participation. 20. How do CLTs relate to other housing and community development organizations? Most CLTs work to support and complement existing efforts in a community. If a CLT is established in a community where other organizations are already engaged in activities such as organizing local residents, building or rehabilitating housing, training new homeowners, organizing community gardens, promoting employment opportunities, and so on, a CLT can support and enhance those efforts in a specialized way. For example, if another non-profit organization is actively developing affordable housing, a CLT can cooperate with it. The non-profit developer perhaps builds or rehabilitates housing on CLT land, while the CLT concentrates on acquiring and holding land, organizing grassroots support, and working with prospective leaseholder/homeowners. Return to too A FEW MORE QUESTIONS 21. Isn't a mixed ownership arrangement of this sort -- with buildings owned by one party and the land by another -- pretty rare? Not as rare as you may think. The separation of land and buildings and the leasing of land to the owner of the buildings is an old, established and widely-used mechanism. Many substantial commercial buildings are on leased land, perhaps the most famous of these being Rockefeller Center in New York City. There are large areas where people own homes on leased land: Baltimore, Maryland; Davis County, California; and many other regions. It is now becoming more common for developers to establish residential projects on leased land. 22. Do CLTs pay property taxes? Yes. Residents pay taxes on their homes if they own them and the CLT pays property taxes on landholdings. CLTs can qualify for exemption from federal and state taxes, but they usually pay local real estate taxes on the land they own. It is politically important for the CLT to pay for its share of services enjoyed by the neighborhood. The cost of these taxes is covered by lease fees paid to the CLT by those using the land. (In some cases CLTs and their residents may request an assessment based on the resale value of the home as determined by the CLT's resale formula rather than the market value of the property.) 23. Does the CLT ever seil its land? Very rarely. Once the CLT has acquired a parcel of land, its intent is to hold it indefinitely -- never again aliowing the land to be bought and soid as a commodity. Most CLTs structure their bylaws to require the consent of all affected leaseholders and a supermajority of the board and membership for the corporation ever to sell any of its land. There have been situations, however, when CLTs have found it prudent to sell a parcei of land -- exchanging land that is not appropriate for the CLT's purposes for land that is, or selling off some land to avoid losing the rest. 24. What happens to the CLT's land and lease arrangements if the CLT is dissolved? If a CLT is dissolved and ownership of the land is transferred, the new owner is obligated to honor the long-term lease agreements between the CLT and its leaseholders. Should the land ever be offered to a non- charitable buyer, the resident has the right of first refusal to buy the land. 25. What happens if disputes arise between leaseholders, or between a leaseholder and the CLT? The parties will try to negotiate before litigating. 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Zool � 0 P.004/011 �aN-10-?002 �TNU) 10:10 NASN( NGTON COUNTY HRA (FA�) 651+458+1696 Two Rivcrs Community Land Trust B�lancc Shect as oI Scptcmber 3A, 2001 ASSi:TS• CURRENT ASSETS Cash Chccking S 8,252.92 Cash Savin�s-Unrestricted $ 51,950.59 Savings Restrictcd-Prop�:rty Devclopment $ 50,000.00 Savings-Restricted Equipment $ 1,336.54 TOTAL CURRENT.d.SSETS LONG TERM ASSETS Purniture & Equipmen� flccumulated Depreciation TOTAL LONG TER1F1 ASSETS TOTAL ASS�TS LIAI3TLiTIES AND EOUi'I'Y_ LiAB11.ITiES CURRENT LI�lB1LlTlES Fed. & FiCA Withheld MN Withheld 10TAL CURREN7 LIABILITIES LO/YG TERNI LIAITILITIES TOTAL LONG TF.RMLIf1DILTf1ES TOTAL LIABILIT�S STOCKIiOLDCItS EQUITY Ne� Assets-Unrestrictecl Nct Sucplus (Deficit) $ 2,291.67 (127.44) $1,34B.00 $ 274,28 S 44,556.58 $ 67,525.42 $111,S�O.OS $ 2,164.23 1$ ,6?�.28 � �� TOTAL STOCKAOLD�RS EQUITY �l 12.082.00 TOTAL LIABILITI�S & �QUITY P, 005/�ll�� 5113,704.: S S 1,622.28 � 113,704.28 �J-AN-10-?002�?NU) l�;ll �ASHINGTON COUNTY NRR 2001 Rcport to the Community (FAX1651+458+1696 P. 006/�l l Two RiverS Community Land Trust has spent the l�st year working to dcvetop our organi7.�tional nnd develoPmcnt capacity. � Our Executive Director has anended sevrral conferenccs and tr�ining sessions includins in�lc Family Housing Development conference sponsorcd by �IUD and MN Housing Partnecship, truining on Section 8 Homeownership sponsored by HUD and Twin Cities L[SC, AdvAnced IdOMC Truining by MN liousins Partnership and HUD, nnd Affordable housing Development provided by the Ncighborhood Reinvcstment Training Institute, • Our Boatd of Directors has received Development Traininb by Michael Brown of Burlington Associates. Mr. Brov+m is a ntitional technical assistunce provider for the Institute for Community, Economics, the national community land trust orgnniT.�tion. They 1�►ve also artended a Board Govemance and Policy training given by Dennis Cheesebrow of TeamWorks Internalional. Mr. Cheesebrow was rcfeRed to us by Independent School District 834. • On July 1" we si�ned u I�sc with Stillwater OIIice Suites and purct�sed needed computer equipment and software as well as n,eeded office equipment. We were nblc to stretch $5,000 in funding by the Bayport Foundation for these costs by purch3sinb our softwarc from the national United W�y's Gifts Tn-Kind program •?wo Rivc,�s hired Vital Systcros payroll service to ensure we will comply with fcdcrnl ond state payroll taxes and filing. • MAP for Nonpro Gts provided our accounting services during our transition to our office nnd completed our IRS Form 990 for filing for 2000. • We have liired Cusick Accountinb out of Woodbury to provide our long te�m accounting services. . We complcted the design and printin� of our office stationary and prescntation materi�ls. . To date we have raised $128,000 in foundation funding. This includes 550,000 in gap financing and $78,000 in star� up funding from the Hugh J. Andcrsen Foundation, thc Hayport Poundation, the 1'.R, Bigelow Foundation, the Saint Paul Foundation, thc Kay Clint iund efthe St Croir Valley Communiry Foundation und the Katherine B. Andcrscn Fund of the Saint Pnul roundatioa • As noted above, Two River's Community Land Tnist has spcnt the I�st sevecal months developing its oYganizational capacity. On Au�ust 7�` thc Washington County Commissioners rccognized our eflbrts to build capacity by granting us our HOME CHDO designation. • We nre currcntly working �o idcntify dcvclopment partners. JAN-10-?OOZ (THU) 10 ;11 �RSHI NGTON COUNTY HRA Two Rivcrs Community Land Trust Strs�tegic 1'lan 2001 to Z006 (FAX) 651+458+1696 P. 00�101( ` Bascd upon thc work completed by die Board of Directors and staF1'of Two Ri�ers Community Land 'Trust at tl�eir Stratcgic Planning Retreat on Novembcr 3, 2001, thc workplan for Two R.ivers CLT for 2002 snd beyand is as follows: AFI'ORnABLE AOUS[NC DEVCL4PMENT - There is a nced for morc uffordablc housing in WAShington County. How does Two Rivers CLT iacrease and preservc thc gupply of permanently nRordable housin� in Washin�tun County? 002 Goa! Goal 1: Dcterminc hausing devclnpment rolr for Two Rivers CLT. De<ulline: Jan 15'02 Go:it 2: Asscss markct needs in Wx9hiagton Cuunty for Twu Rivers CLT's pretcrcnce to devclop sinslc-family detachcd und/ar nttact�cd (c.�., duplcx) housing. � Str.�te�v #1: Analyze Jan 'O1 Muxfield Housin� Ne�ds Assessment for Washington County Strrtc #Z: Conduct at least �wo focus groups of poten�inl buycrs/tArget market Deadline: Fcb 1 `02 Co�l 3: Devclop u priority list o[munici�ulitics in Wushington County within which to targct scattered site acquisition project(s) and multi-unit project development �ctivity. Dcadline: Feb 1 `02. � Goa14: Devclop � Honiebuycr Selection Trucess (Scicctioa Criteria aad Proccss) Deadline: Apr 1 `02. Gns15: Research and develon a Buyer-lnitintcd CLT Progrum for implcmeatatio� in 2002. (Up t� �ix unils countywi�c in 2UQ2). Strate�y #1 : Research other successful buyer-initiated CLT pro�rams (e.g., Burlington CLT in Burlin�ton VT and Northern Communities Land Trust in Duluth MI� Struteev #2: DeveloP puramcters and proccdures for Two Rivers CLT's buyer- initiatcd • Prob�ram- Str.,tcev #3: Preparc funding application lo Summer �002 Super RFP I'unding round. Deadlinc: Jul 15 `02 Coa16: Dcvclop u Markctinb Plun (m�tcri:tis, out�csch strntegics) for Two Rivcrs CLT's buycr- initiatcd program and devclopmcnt projects Deadline; Jul 15 `02. � Gosl 7: Dcvelop plan for devclu�ment of a smatl (i.e., up to 4-unit) projcct for construction and occupancy in 2003. Str:iteev #1: Tdentify available developmen� sites Strsteey_#2: Pariner with e�cperienced housing development partner. v�N-10-Z002(TNU) 10:11 �ASNINGTON CO�N?Y NR� (FAX)651�458�1696 P, 008/011 StrAteev #3: Develop pcojecl conccpt and financial packaging Str.�te 4: Prep3re funding application for Fa112002 Super R['P funcling rvund. Deaciline; August 15, `0? Coal S: Unclertakc u workshop to explore issucs nnd priorities relatcd to rental housing devclupmcnt — to dctermine possible Tfvo Rivecs C�.T rnle in rcntal housinb developrtent. nead ine: Oct 31 `02 Ca�19: Actively explure potcntivl partncrships fo� housing dcvclopment projects. Potential partncrs include: •: Century Colle�;e •:• Cimarron � Habital for �lumnnity ❖ Employers (State rarm) � Developer(s) — Bob Engsvom ❖ Teachcr's Unioris :• Senior Fedecation .. :• Ministcriul P►ssociation s• Others? . Deadline: on-goin�; throughout 2002 —�nd beyond Co�l 10: Continue to rcb�rd Washinglon County us thc primstry �crvicc nrca lo� Two Rivcrs CLT but ezplorc possibilitics of Amc�ding Mission Stutement, Articles sncl By-Laws to ullow for possibility of gcugrnpl�ic cxpansion in futurc l�eadline: -- reb `03 � Additionally, building on its goals to cstablish a two-pronbed approacli to housing developmcnt uctivity in its services area - buyer-initiated and small development project ne�ivity — Two Rivers CLT's Board of Ditectors, at its November 3, 2001 Planning Retrcat, identitied a projected development plan tluou�h 2006: Two Rivers Communi Land Trust Afrordablc Aoasing Dcvclupment Goals Scattcrecl sitc purchASe- CLT Initiatc� fnew) Buycr Initiated Projcct . Dcvcloamcnt 2002'' 2003* 2004�' � 2005* � 2006* up to 4 8 10 u to 6' S 12 24 lU 10 12 12 24 Cumulutivc Total � lU � 50 � 72 ` 118 �]40 "' Date when anticipated projec� will start JAN-10-Z002 (TNU) 10 ;1 Z�ASNI NGTON COUNTY Hft� (FAX)651t458+1696 P.009/01�� COMMIINITY RELAT[ONS - How docs ?wo Rivc�s Community Land Trust build a busr of support for its mission, its work, and its projects'� 002 Goals Goal 1: Increasc mcmber9hip tn it least 100 mcmbcrs in 20Q2 wilL onc mcmber Irom cvcry couaty municipulity. Deadlinc: Dec 31 `02 Goul 2: lmplcment Outn��ch Committee. Deadline; Jan 31 `02 C:oai 3; Devctoh somc mcans to �cknuwletlgc mcmberst�ip (c.b., coffce cup) und participrtion. Deadline: by Annual Meeting '02. Goa14: Develop corporatc/sustaining membership. Including a reeognition program in rachnnge for hibher ducs. neadline: by Goa15: IJcatily key au�liences and prioritizc outreacu within the municipalitics idcntiGed as priority developmcnt ureus. jScc Atrordablc Housing Dcvelopment Gaal #3 abovc). Dcadline• Goal 6: DcvctoP PR and cducution�l materials, tailared to spccific nudicnccs tur�eted in Goat #5 (abovcJ. Goa17: Develnp :� websitc for Two Rivcrs CLT. Deadline: have a wcbsite designcr by Aug `02. Cu�18: Dcvelop an Orieatation Pts�n tor potential l�lomcbuyers Deadline: plan dcveloped by Sept 1`0? implementation of plan by Oc� 15 `0? Cnu19: Dcvclup recruitment plan tor outr�ch to potential Iessccs — including identifyinb locntions and constituencies to tnrget (c.g., social scrvice org�nizAtions, rcligious entities, cmployers, pubtic l�ousin�, scminurs to rc:►lturs and tcnders, ctc) ancl idcntifying liouscholds of nced to "hcadhunt" Deadline: by Oct 1 `02 Goal 10: lncrcasc mcmbcrship by 25% per yarr from 2003 And bcyon�l. � JAN-10-?OO��THU) 1�;1Z RASNfNGTON C08NTY 8R� (FAX)651+458+1696 P.O(0/O1( ADVOCACY/PUii (.iC PO LiCY D1:VEL01'MFNT — How docs Two Rivcrs Communiry Land T'rust in!]ucncc public poticy to (u) rcduce bsrrien that mukc housing cortplicatcd und cxpcnsive und (b) to pramotc cr�tion and prescrvution of residcnt-controlled, permsnently affurdablc housin�? UO2 Goal Goxl l: Jein "Modet Zoning Templ:itc^ initirtive and work and work with staff in targctcd muaicipalities. Deadline: C��:�1 Z: Continuc participation i� Minae9ots Coalition ol'CLTs und itc ctrorts to develop a Ic�islutivc agcnd�. Deadtine: Coul ;i: Particip�tte in Housing Minnesot� and its developmcnt of legislutive agcnda rotated to housing. Deadline• - Goal 4: Ezplore partncrsuiP oPPortunitics with vther advocs�cy initiatives — such as Sower, MICAH an� ISAIAH. ' Deadline: Gna15: Facilitate meetin�s and hust forums between urSAnizatiuns, constituency ancl ehurches. Deadline: ORGAIVIZATiQNAL ADMINIS7RATION — Aow to as�ure Lttat Two Rivcrs CLT is wcll governcd and wclt stufted and how to sssure tliat there are suircient finuncial resources to run the i ur�anization and thac ttie assncs (fin�nciul and humnn) of the or�aniz:�tion are protected and well � man��ed? 002 Goa! Gosl 1: Recruit cnou�li patential Boanl membcrs to �ill a cumplete Buard o[12 Airectors. Wurk to fill sc:►ts on thc Board to :issure Bo•rr�l has mcmbers with skill� and cxpertise in the followi�g areas: bankin�, rc:�l estutc, finvnciat, dcvciopmcnt skills, low-incomc rcprcg�ntation, und work forea Dendline: Gna12: lmplcment Committee Structurc �rcviousty adopted by Bour� olDi�cctors Deadline; Jun 30 `02 Gus�13: Acvclop un Oricntaiion Ptan for new board mcmbers Aeaclline: Jan 15 `02 G��v14: Dcvclop u boanl succcssiun plan Deadline: by Annuul Meeting `02. Goal .5: Concluct StaiTing Asscssmcat Deadline: Mar 31 `02. J��-10-ZOOZ (THU) 10 ;12 �ASN( NG?ON COUNTY HRA (FAX1651+458t1696 P, O11/01i Coal 6: Actively cxplorc the potcnti�l for s VISTA voluntccr as additionul progr•tm �tu[t Deadline: CoA17: Dcvetop Annual Operutin� Budgct [or 2002, udjustcd for revi9cd workplsn �nd revise fundrrissing �oals uccordingly. De�dline: Feb 1 '02 � Coa18: Dctcrminc who has respnnsibility for finuncisl m�nugcment (fundraising, a9scC mvnasemcnt; develo�ment of compensatiun s�nd bcneGts nac{cabes, etc). Dc�dline: by Aug 1 `02 Goa19: Devclop nr�anizatioayl prioritics and prcliminary wurkptan for 2003 and bcyond Dca�dline: Oct 31 `02 Co�l 10: Dcvclop budgct tor2003 Deadline: Nov 30 `02. ,