In a recent move to combat the affordable housing crisis, the Maricopa County Board of Supervisors gave the green light to a deal centering on a Community Land Trust (CLT), aiming to boost homeownership for residents in El Mirage. Chairman Jack Sellers, hailing from District 1, highlighted the county’s mission in his statement saying, "Maricopa County is creating pathways to ensure more residents have the opportunity to become homeowners," according to the Maricopa County.
In line with the plan, El Mirage is chipping in $1 million of American Rescue Plan Act (ARPA) funds to Maricopa County. This cash infusion is earmarked to purchase and spruce up around five single-family homes. These homes are then poised to be sold to qualified buyers making no more than 120 percent of the Area Median Income, which translates to a yearly income cap of $112,200 for a family of four, according to the county announcement.
Supervisor Clint Hickman of District 4 expressed pride over the county’s partnership with El Mirage, emphasizing that through this initiative they are "helping families secure a permanent and affordable place they can call home for years to come," as per the Maricopa County.
An integral part of this homeownership strategy is the CLT model, designed to keep the houses affordable. Owners pay for just the structure, not the land it sits on. The developer retains land ownership, instead offering a renewable, low-cost lease to the homeowners. This allows families to not only build equity but also enjoy the perks of owning a home.
