Gainesville’s first affordable home in community land trust to be unveiled
Press release from City of Gainesville
GAINESVILLE, Fla. – Leaders from the City of Gainesville and Bright Community Trust will celebrate the completion of the first affordable home built in Gainesville as part of their community land trust (CLT) partnership. The new single-family home is the first of 10 houses to be constructed on vacant lots previously owned by the City and transferred to Bright Community Trust.
When: 10-11 a.m. on Fri., Aug. 9
Where: 818 SW 2nd St.
Among those scheduled to speak at the event are Mayor Harvey Ward, District 1 Commissioner Desmon Duncan-Walker, and Bright Community Trust President Frank Wells.
CLTs are part of the City’s comprehensive housing strategy to increase affordable housing through new construction. Bright Community Trust retains ownership of the lots while income-eligible homeowners purchase the homes with a long-term lease on the land.
Neighbors with household incomes no greater than 80 percent of the area median income – as defined by the U.S. Department of Housing and Urban Development and adjusted for family size – may qualify to purchase a home. (In Gainesville, a family of four whose annual income does not exceed $76,250 may qualify; the income limit for a single applicant is $53,400.)
Through an affordability requirement in the agreement, the homes will remain affordable in perpetuity whenever sold by the homeowner.
As the old saying goes, “they ain’t making land anymore.” Evidently, the Bright Community Trust understands that.
While it provides an opportunity for homeownership to low income people, there’s no real ownership. Can’t help but wonder if the homeowner wins the lottery or comes upon some other financial windfall, will they be able to continue living there if they choose? Will they be able to take their home with them if they decide to move? If the latter, there’s already homes available like that – they’re often referred to as mobile homes.
As the Back-Ward Mayor of Gainesville I must tell you that affordable housing in Gainesville is another joke I came up with. Down at city hall the joke is we call is Afford-a-bullsh*t housing because in Gainesville there is no such thing. This is just another scam I have come up with to convince builders to build homes then I hit them with Tree Mitigation Fees, Sewer connection fees, Water Connection fees, Impact fees, Transporation use fees, Concurrency fees, Donuts in my mouth fees, Inspection fees, permit fees, school fees, public work fees, park and recreation fees, and so on and so forth. We set it up so before you even start construction it can’t be affordable. The best part is you commoners keep voting us in.
Honest question– would this be counted as income on Federal tax?
Not quite understanding your Q. What income are you pointing towards? The lots transferred from the city to the trust?
Broadly speaking, if someone can purchase a home for $50K but equivalent homes in the same area are averaging $250K, is the $200K difference taxable?
Put another way, is the home truly only worth $50K, or is it subsidized and if so is the subsidy considered taxable income?
You’re confused. The homes are NOT sold for $50,xxx or $70,xxx. That’s the family’s or single person’s income limit to qualify.
But your question brings up a good question, are the lower land costs (rented lots are subsidized instead of bought as a mortgages lot with the homes) counted as income?
The city benefits by adding more homeowners instead of Section 8 renters.
Not sure the tax question is a big difference, except to the IRS and local tax collectors.
This will be good news to whatever relative of a Gainesville City Commissioner is allowed to buy it.
Would make a good Air B&B rental for people who want that “Gainesville, FL–America’s Newest Violent, Unlivable Hell-hole:
You make an excellent point. I wonder what the selection process is for the homeowner.
I doubt the buyers can rent them out. Defeats the purpose.
An affordability requirement in the housing agreement with Bright requires owner occupancy of these homes.
https://www.gainesvillefl.gov/News-articles/First-affordable-home-in-community-land-trust-program
So, what is the price on this house?? And, can you get a conventional mortgage on leased property? Or, does the city now create a boondoggle finance program
It’s listed at 266k.
It’s more likely the NGO holds the mortgage, not a bank. That way they can take it back under the intended purpose, deed restricted for another qualified buyer.
The City doesn’t own the land.
The citizens of Gainesville do. Just like nothing is free someone paid for it. Of course King Ward will stand there and take all credit.
Maybe Ex-King Poe can give to it one of the families he is settling here in Gainesville.
When Poe brings those immigrant/refugee families here, he should provide for them, share his home or whatever. We have “jillions” who were born here who have great needs. We don’t provide for them, adequately.
If they were truly concerned with recognizing and giving reparations for the atrocities of the past, they would be giving the land back to the original inhabitants.
Hypocrisy is the rule of the day.
So are there Timucua Indians around to give it to today?
Sure someone has .00004% in their genealogy.
Have to ask Senator Warren how she discovered she had native American in her lineage.
They were elected to provide essential services.
They should mind their own business and stop housing the worlds’ vagrants here or feed the worlds’ hungry, or try stop climate change.
Look what a great job they did with boondoggle biomass plant or Taj Mahal Grace Marketplace.
Can they do something about the potholes, vagrants, & fast food trash blowing around in the streets? For a while there after C19, finding masks on the streets & sidewalks was so gross! 🤮