Housing has always been America’s greatest asset building strategy. For most American families, their investment in homeownership is their single most important source of wealth creation. Similarly, public sector investment in housing also generates valuable assets. Most homeownership subsidy programs use public money to build what is almost entirely private wealth. The homebuyers can realize significant growth in the value of their homes over time, but none of that value is available to help other families in the future and, the public sector must invest new money for each family assisted into homeownership.

Subsidized rental housing generally offers the resident families no real opportunity to build individual assets, but because these units remain affordable to one family after another, rental housing can be seen as producing community wealth. From the point of view of asset building, public housing programs have tended to be all or nothing. Either you rent and receive none of the asset building benefit or you own and receive a return on your personal investment.

The Delray Beach Community Land Trust (DBCLT) is one of several affordable and workforce housing initiatives created to provide a middle ground where both individual families and the community at large share in the long-term affordability and wealth creation that results from the wise investment of public funds in privately owned housing.

The DBCLT is an independent, 501(c) (3) nonprofit, CHDO certified organization and an Equal Housing Opportunity provider, in partnership with the City of Delray Beach and the Delray Beach Community Redevlopment Agency, which was incorporated in January of 2006 to preserve the affordability of homeownership and rental units in the City of Delray Beach. The DBCLT will  sell or rent homes to qualified very low to moderate-income families, but retain ownership to the land under these  homes and hold it “in trust” for future generations.  By owning the land under the house, the land trust is in a strong position to ensure that the subsidy is retained for the benefit of subsequent families.

The DBCLT is governed by a twelve member board of directors that includes public, community and lessee representatives.  Our primary and secondary clients are individuals and families whose lives are changed through our commitment to revitalize and stabilize the City of Delray housing stock and distressed neighborhoods by working together to eliminate barriers to affordable housing.  Program services include management of rental units.  Additionally, affordabale, quality housing opportunities and options are afforded to very-low to moderate income households, assuring timely delivery.  Since inception we have sold 52 single family homes and 3 Townhomes.