Special requirements for community land trusts.

CFR · 2024-01-01 · US · Title 7

A community land trust must meet the definition in accordance with § 3555.10 and other requirements described in this subpart. Loans may be (a) (b) (c) (1) Be organized under State or local laws. (2) Members, founders, contributors or individuals cannot benefit from any part of net earnings of the organization. (3) The organization must be dedicated to decent affordable housing for low-and moderate-income people. (4) Comply with financial accountability. (d) (e)

official document · source cfr-2024 · id 7:§ 3555.206