August 2, 2019
The San Antonio City Council might consider a program to set up community land trusts (CLT) and other property ownership models to reverse housing displacement in neighborhoods undergoing gentrification. Councilman Manny Pelaez, District 8, submitted a council consideration request, asking the city to explore this, and other tools, and to report findings.
CLTs are managed by entities that buy the land, then lease it to people who live in homes on that land. Instead of paying property taxes on the land, residents only pay taxes on the dwelling’s value. In this case, the city could buy up land parcels, then lease the land back to homeowners, Pelaez told Rivard Report. “In exchange for us holding on to their property, it allows them to stay in their homes,” he added, instead of being priced out by rising property values.
Pictured: District 8 Councilman Manny Pelaez
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