Can I own a Green On 14 townhome?
Qualifications
1. Home must be sold to owner-occupant(s).
2. Income and resale restrictions apply to the purchase of this property.
This home is made available to households earning less than 80% of Area Median Income (AMI). Gross income for all household members must not exceed the AMI limits in the chart to the right. The City of Lakes Community Land Trust (CLCLT) will be the owner of the land under the townhomes and is the administrator of the rules under which the townhomes are funded.
3. Interested homebuyers need to:
a) Complete CLCLT application process, including:
• CLCLT Application Form
• 8 most recent paycheck stubs
• 2 years most recent income tax returns
• 6 months most recent statements for all checking and savings accounts
• Current statement for retirement accounts
b) Attend a CLCLT Orientation. Register online at https://www.clclt.org/events-calendar
c) Obtain pre-approval letter from CLT-compatible mortgage lender.
Complete list available at clclt.org.
4. Attend a HUD-approved first-time homebuyer HomeStretch Workshop presented by the Minnesota Homeownership Center hocmn.org. This course must be completed before a purchase agreement can be accepted.
All Green On 14 buyers must complete the HomeStretch Homebuyer Education course. Completion may also satisfy education requirements for down payment assistance programs. (Framework certificates are not accepted.)
Courses are available in:
• English
• Spanish
• Somali
Course formats include:
• In person
• Live online
• Self-paced online
More at: www.hocmn.org/for-homebuyers/homebuyer-education/
Upcoming Orientations
Application and event information is available through the City of Lakes Community Land Trust. More at: www.clclt.org/events-calendar
Wednesday, August 5
12 pm - 1:30 pm (In Person)
City of Lakes Community Land Trust
1930 Glenwood Avenue, Minneapolis
Sign up: https://clclt.tfaforms.net/9?oid=a0jUi000006r8yT
Monday, August 24
3:30 pm - 5 pm (In Person)
MacMillan Center at Abbott Northwestern Hospital, 3rd floor
2837 Chicago Ave, Minneapolis
Parking available in the purple ramp
Sign up: clclt.tfaforms.net/9?oid=a0jUi000008kohx
Tuesday, August 25
5:30 pm - 7 pm
Virtual Zoom Orientation
Link: https://clclt.tfaforms.net/9?oid=a0jUi000006r905
Reservation Agreement
Income Eligibility
All Green On 14 home buyers must earn less than 80% of the Area Median Income (AMI) for the Twin Cities Metro area, which are based on household size.
Income limits are determined by the Department of Housing and Urban Development.
