(Spirit Lake)– The Spirit Lake city council voted unanimously Tuesday to adopt a resolution donating some city-owned property at 2302 Hill Avenue to the Lakes Community Land Trust.
The action followed a public hearing that drew no oral or written comments.
Jim Golden of the Lakes Community Land Trust says it will allow the one-year-old organization to move ahead with it’s first project to bring more affordable housing to Dickinson county.
He says the city will continue to own a portion of the property for street right-of-way purposes. Golden says the Lakes Community Land Trust will re-plat the remaining property and build two houses there. He says construction will start hopefully by spring.
Golden says the Land Trust is a relatively new concept to affordable housing in that the trust actually owns the land on which the house sits. That land is leased in perpetuity to the homeowner. Golden says they also use an equal or greater amount of money to actually buy down the cost of a home. The homeowner then agrees that upon selling the home he or she cannot take the full appreciation. As a result, Golden says the cost remains affordable to the next buyer.
Golden says while the project in Spirit Lake will be the organization’s first, they they’re actively looking at similar projects in other areas of Dickinson county.
He adds they’re actively seeking donations of both land and houses.
