Frequently Asked Questions (FAQs)
Why are there limits on the income that a homebuyer can have?
Homes that have limits on how much income a homebuyer can earn were developed/built using funds from a source that requires limits on income. Typically these are state or federal sources of funds.
Do I have to be a first-time homebuyer to purchase a Coulee CLT home?
No. However, the mortgage cost for non-first time homebuyers may be higher. This is because some funds used to make homes affordable are only available to first-time homebuyers. Contact Coulee CLT staff for more information.
What is the relationship between Couleecap and the Coulee Community Land Trust?
The Coulee Community Land Trust is part of the Coulee Housing Development Corporation, a non-profit, 501(c)(3) corporation that operates independently. However, to save money and resources, the Coulee Housing Development Corporation contracts with Couleecap for staff services and for the development of housing units. This allows the Coulee CLT to focus its resources on programming and support resources for its homeowners.
Are there other community land trusts in Wisconsin?
Yes. The Madison Area Community Land Trust has been active for more than 20 years. In addition, there are more than 13 active and successful land trusts in Minnesota.
Where can I get more information on community land trusts?
Two websites with lots of great information are Burlington Associates and the National Community Land Trust Network.