Champlain Housing Trust is a non-profit organization based in Burlington, Vermont, that is dedicated to providing affordable housing for people in need. The organization was founded in 1984 and has since grown to become the largest community land trust in the country. Champlain Housing Trust’s mission is to create and preserve affordable housing opportunities for low and moderate-income Vermonters.
The business plan of Champlain Housing Trust involves several strategies to achieve its mission. One of the key strategies is the use of the community land trust model. This model involves the creation of a community land trust, which owns the land on which affordable housing is built. This ensures that the land remains permanently affordable, even as the houses on it are sold or rented out. This model also allows the organization to provide a range of housing options, from single-family homes to apartments, for people at different income levels.
Another strategy of Champlain Housing Trust is to develop partnerships with other organizations to expand the availability of affordable housing. The organization has partnered with the City of Burlington and other non-profit organizations to develop affordable housing projects. Champlain Housing Trust also provides technical assistance to other organizations interested in creating community land trusts.
In addition to developing and preserving affordable housing, Champlain Housing Trust also provides a range of services to support tenants and homeowners. These services include financial counseling, home repair assistance, and energy efficiency upgrades. The organization also operates a community land trust stewardship program, which provides ongoing support to homeowners and ensures that the properties remain affordable and well-maintained.
To fund its operations, Champlain Housing Trust relies on a variety of sources, including government grants, private donations, and revenue from rental properties. The organization also operates a real estate development company, which generates income by developing and managing affordable housing projects.
Overall, Champlain Housing Trust’s business plan is focused on creating and preserving affordable housing opportunities for low and moderate-income Vermonters. The organization’s use of the community land trust model, partnerships with other organizations, and range of support services have made it a leader in the affordable housing sector.