Frequently Asked Questions About
the Chaffee Land Trust

What is the Chaffee Housing Trust (CHT)?

Chaffee Housing Trust is an independent non-profit organization with an active Board of Directors and Advisory Committee that reflects the community it serves.  In coordination with Chaffee County and its cities, the CHT can leverage public and private resources, working with developers to make quality housing an affordable, sustainable, and achievable practice.

What is your mission?

The Chaffee Housing Trust (CHT) is committed to promoting responsible community development
by providing sustainable and affordable home ownership to qualifying residents.

What is a Community Land Trust (CLT)?

Community Land Trusts are organizations that exist in communities across the country.   The objective is to provide quality housing options that are affordable, sustainable, and allows the owner self-sufficiency.  CLT’s acquire land and properties, leasing the land to the homeowner with the requirement that when the owner sells their home it will be sold back to the CLT or to another qualifying low income buyer.  This ensures the affordability of properties long term.

What is "responsible community development?"

Proactively ensuring that our communities thrive by maintaining a balanced and diverse population. Creating housing that allows residents to stay here. Embracing all ages, all backgrounds, all socio-economic levels as our neighbors.

What is "sustainability?"

Quality affordable housing that is long-lasting. Providing financially and environmentally responsible options that are benefits to the community.  Making sure quality housing options exist now and long-term.
What is affordability? –We must create equitable and attractive housing that better matches the low wages of this valley. We rely upon community members that are essential to it functioning. For this reason CHT specifically targets working residents.

Is there really a need for the CHT locally?

Yes.  Based on county wages, 60% of community members can afford housing prices between $135,500 – 187,900.  With the average home price of $270,000 there are very few homes, if any, that are in that affordable price range.  The rate of second home owners increased from 16% (1990-2000) to 23% (2000-2005), with 80% of the homes built between 2000-2005 going to second home owners.

What is being done?

The Chaffee Housing Trust was established in 2007 and became an active organization in 2008 with the development of an active Board of Directors and Advisory Committee.  CHT is in the process of acquiring land and properties to begin addressing the need of affordable housing beginning in 2009.
 
Who qualifies for CHT housing?

Households earning 80% Area Median Income or less are the primary target of the CHT, followed by tiers of 100% AMI, and 120% AMI. Successful CHT homeowners need a clean credit record to qualify for a mortgage, as well as 1 year residency or employment in Chaffee County.

How can I help?

There are many ways to help by contributing time, money, land/properties, or expertise.  To discuss your interests, please call Chaffee Housing Trust at (719) 207-4348.