ANA has partnered with the City of Lakes Community Land Trust to provide up to $97,500 in assistance to help buyers make their home in Audubon. You may have seen our yellow yard signs at some of the eligible houses for sale.

WHAT IS THE LAND TRUST?
The City of Lakes Community Land Trust (CLCLT) is an innovative affordable housing program helping low- and mid-income people buy single-family homes. The Land Trust provides up to $65,000 towards the cost of your home. CLCLT takes title to the land, You take title to the house—in effect you co-own the property with the Land Trust. CLCLT provides support and education to help ensure you are successful homeowner.

HOW WILL AUDUBON NEIGHBORHOOD ASSOCIATION HELP?
ANA will provide $7500 in down payment assistance to the first four new Land Trust owners in the Audubon Park neighborhood.

WHAT KIND OF HOUSE CAN I BUY?
One that fits your needs and fulfills CLCLT requirements. You pick the house from any for sale. However it must be a single-family house (or a duplex that can be converted back to a single-family home) which needs no more than $25,000 in repairs/renovations. That's $25,000 in addition to the $65K affordability grant!

ARE THERE LOTS OF HOOPS OF JUMP THROUGH?
HOW LONG WILL IT TAKE TO GET THROUGH THE PAPERWORK?
First you need to attend a Land Trust Orientation session and fill out an application. Then you attend a Home Stretch homeownership workshop, get pre-approved through a qualified lender and meet with CLCLT counselors. Meanwhile you can be looking for your new home (if you haven't already found it).

HOW DO I QUALIFY FOR THIS PROGRAM?
This is an income-based program. Households earning less than 80% of the metro median income are eligible; however, preference will be given to households earning less than 50% of median income. For example, the figures for a family of three are: 80% = $56,560 and 50% = $35,350.

HOW DO I LEARN MORE?
Contact Jeff Washburne of CLCLT at 612-721-7556 x17 to learn more or register for an orientation session. Tell Jeff you're interested in the Homebuyer Initiated Program in Audubon Park. You can also find information at www.clclt.org

WHAT’S THE CATCH?
If you decide to move and sell, you will need to agree to certain resale restrictions. But otherwise, our neighborhood gets good, responsible neighbors and you become a proud new homeowner.