The Citi/Grounded Solutions Network CLT Accelerator is an exciting new initiative aimed at addressing the affordable housing challenges facing urban, rural and suburban communities nationwide by propelling the growth of community land trusts and other shared-equity programs. With a $1 million investment from Citi Community Development, Grounded Solutions Network will drive a major new effort to scale-up the sector and increase access to permanently affordable homeownership opportunities for low-income first-time homebuyers.
As part of the Citi/Grounded Solutions Network CLT Accelerator, we held a competitive review process to select three CLT Accelerator Fund recipients. Together, Citi and Grounded Solutions Network are providing technical assistance and investing $500,000 in capital funds in residential projects in select markets that hold the potential to transform the lives of low-income households.
We received nearly 20 qualified applications, and after a thorough review and vetting process, Grounded Solutions Network is providing capital funds and technical assistance to support the following projects:
More information on the projects and grantees is available here at this link. We look forward to sharing the CLT Accelerator Fund recipients’ successes during their one-year grant period ending in July 2019 and beyond. Stay tuned for more information on their work and other Citi/Grounded Solutions Network CLT Accelerator tools and resources to be posted on this page.
Private Sector Solution to Housing Gets Off the Ground – Wall Street Journal
Permanently Affordable Housing Gets it’s Own Accelerator – Fast Company
New Program Aims to Help Community Land Trusts Get to Scale – Shelterforce
Citi Community Development leads Citi’s commitment to financial inclusion and economic empowerment for underserved individuals, families and communities across the U.S. Through innovative collaborations with municipalities, community groups and leading nonprofit organizations, we harness Citi’s expertise, products and services to help expand opportunity for all.
Additional information can be found at http://citicommunitydevelopment.com