Louisville Takes Steps For First Community Land Trust, An Affordable Housing Tool
WFPL reports that nonprofit REBOUND, Inc., has taken the first steps create a Community Land Trust in Louisville, KT. The nonprofit could be awarded up to $2.1 million in federal Community Development Block Grants, which would be used to build, rehabilitate or acquire 10+ homes in neighborhoods that historically have had a large number of Black residents.
In Louisville, Black households are half as likely to own their homes than white households, according to the Metropolitan Housing Coalition.
According to the Democracy Collaborative, a left-leaning think tank based in Washington, D.C., there are about 277 community land trusts in America. This will be Louisville’s first.