Home Trust Of Ouray County
Mission Statement
To grow an inclusive, economically diverse community by providing permanently affordable housing and housing-related resources to modest income households in Ouray County through the stewardship of community assets.
What We Do
The Home Trust of Ouray County was founded as a Community Land Trust (see below) to develop and manage permanently affordable housing solutions for Ouray County residents and businesses through homeownership, rental and commercial opportunities.
As a Non-governmental organization, we ensure long-term collaboration with Ouray County, Town of Ridgway, and City of Ouray, independent of changes in local government.
As a 501(c)(3), the Home Trust can accept donations of land or cash in return for a tax deduction. Project grants and donations remain invested in the home in perpetuity creating a community asset.
Homeowners are able to build limited equity in their home with the sale price determined by the resale formula in the land lease.
Homes are only sold to other income qualified applicants in Ouray County, ensuring that affordable housing is available to future generations.
We take pride in developing land in an environmentally and socially responsible manner, constructing and renovating buildings so that they are healthy, durable, and energy efficient.
What is a “Community Land Trust”?
A Community Land Trust (CLT) is a nonprofit organization governed by a board of community residents and public representatives that provide lasting community assets and shared equity homeownership opportunities for families and communities.
How it works:
An income-qualified family or individual purchases a house on land owned by the Home Trust.
The purchase price is more affordable because the homeowner is only buying the house, not the land.
The homeowners lease the land from the Home Trust in a long-term (99-year), renewable lease.
The homeowners agree to sell the home at a restricted price to keep it affordable in perpetuity, but they may realize some appreciation based on the resale formula.
Community Based Focus:
CLT’s develop residential and commercial spaces to best meet the needs of local communities, provide affordable housing, and conserve land. However, the heart of the work is the creation of homes that remain permanently affordable, providing successful homeownership opportunities for generations of low and modest-income families.
Other Colorado CLTs
Chaffee Housing Trust is a successful community land trust in Buena Vista, Colorado serving low income households in Chaffee and Lake Counties.
Grounded Solutions Network
Grounded Solutions Network provides resources for communities to start their own Community Land Trusts. Home Trust of Ouray County is using this framework.