Extending Community Control Over Commercial Development: Community Land Trusts and Community Finance Models
Abstract: The role of community land trusts (CLTs) in community development has been most frequently expressed as the creation and support of affordable homeownership opportunities for low-income and marginalized populations. However, the history and original intent of CLTs are deeply rooted in a holistic view of community development that includes the economic development of neighborhoods. One as... read morepect of this economic development that has recently been revitalized as a potential focus of CLTs is the development of commercial space. Commercial development could be the development of office space, small business, or other retail and generally exists close to, or within, residential areas. This type of development can be used to address a variety of community development goals including job creation or the provision of needed goods and services. This thesis discusses the ways in which CLTs are currently engaged in commercial development and their roles in the development process. It then identifies certain areas that CLTs could provide stronger avenues for the community control and stewardship of commercial developments. Finance structures are identified as one manner through which this control can be expanded and three case studies are provided to showcase models CLTs may adapt or partner with in their commercial development efforts: direct public offerings (DPOs), community capital funds, and real estate investment cooperatives (REICs).
Thesis (M.A.)--Tufts University, 2018.
Submitted to the Dept. of Urban and Environmental Policy and Planning.
Advisor: Penn Loh.
Committee: Barbara Parmenter.
Keywords: Urban planning, and Finance.read less