Local Investment

Frankly, despite our best efforts, major support for local housing has not been forthcoming.

  • Local Community Investment  -  Creating new models of personal investment has huge potential in a community like ours.  NeahCasa continues to pioneer in this realm and has lots of ideas. 

  • “Free” Land Acquisition Methods – Tourism-impacted land prices make it very challenging for standard affordable housing methods to “pencil out” in increasing numbers of rural areas (see Coastal Gap).   Innovative use of tax credits tied with upzoning, incentives to developers, and other creative win-win strategies can provide land for housing development at little or no cost to the community.

        

  • “Finance-Free” Strategies  - Conventional financing constitutes a cost of housing equal or greater than the cost of the homes themselves.  Removing whole segments of community housing from finance treadmills over a 25 year period by paying off Community Land Trust ownership of the homes can reduce homeowner qualification expenses as well as the financing costs themselves.  

 

  • Project Related Investment (PRI) - Some private foundations make their endowments work for the community by investing in projects that help with land banking and housing development. Two that we know of are Meyer Memorial Trust and Enterprise Foundation but neither have been interested in major support for actually building something here.

 

We just have to do it ourselves!