The Inland Equity CLT will be a community land trust that develops and stewards affordable housing and other community assets in Riverside and San Bernardino counties. Inland Equity CLT will provide a solution to inland residents who fall under HUD’s definition of “housing cost burdened.” The Housing Authority of Riverside County estimates that the county needs 66,209 units of affordable housing. There are currently 94,504 people on the Section 8 waiting list in Riverside County alone with an additional 50,000 in San Bernardino county. The U.S. Department of Housing and Urban Development defines a person paying more than 30% of their income on housing costs "housing-cost burdened." As of now, the average studio apartment in Riverside county rents for $875 a month: that adds up to an annual cost of $10,500, while the average income is $23,000 a year.
In partnership with the CBO’s, agencies and service providers currently working with California Partnership, our primary goal is to establish the Inland Equity CLT as an endpoint for the path out of homelessness. Many of our residents will journey through homelessness into emergency shelter, to transitional housing, to permanent supportive housing and into homeownership with the Inland Equity CLT. Though this is our charitable goal, the need for affordable housing in the Inland Empire is a “crisis” of epic and seemingly ceaseless proportions. Though initially, most of the housing will be for housing-cost burdened residents, 25% of the housing will be made available to any community member who would like to own a property in the trust. Our larger aim is to build a mixed-income community of homeowners invested in their own community, held in trust, which guarantees that housing will remain affordable and future generations can grow and thrive.
Inland Equity CLT Website: https://inlandequityclt.org/