Community land trust regulatory agreements for the provision of services in addition to housing that benefit the local community.

A Local Law to amend the administrative code of the city of New York, in relation to community land trust regulatory agreements for the provision of services in addition to housing that benefit the local community

A Community Land Trust (CLT) is a non-profit, community-run organization that can acquire and develop land usually with the goal of promoting permanent affordable housing and stabilizing housing markets. This bill would permit City agencies to enter into regulatory agreements with CLTs that cover more uses beneficial to the local community beyond housing, such as manufacturing and commercial uses the development of open space and community gardening.