About Diamond State CLT

Formed in 2006, Diamond State Community Land Trust’s mission is to help families attain the American dream of homeownership. See DSCLT History for more details.

DSCLT is a membership-based 501(c)(3) nonprofit organization that offers a balanced approach to governance. Members include residents of CLT housing, small businesses, neighborhood associations, corporations, and supportive individuals and families. The Board of Directors includes members from the above groups as well, with a third of the Board made up of CLT residents and low income area representatives. This ensures that CLT homeowners have an active voice in the work of the Land Trust, and thus in their neighborhoods and communities.

Though housing costs in Delaware are skyrocketing, DSCLT moves working families into homes they can afford. DSCLT invests funds in every transaction, “buying down” the purchase price of the home.

DSCLT and the homeowner enter into a legal agreement upon purchase. This agreement ensures that, if a homeowner decides to sell, the home re-sells at a price working families can continue to afford, while providing the seller with a return on his/her investment.

DSCLT homeowners build equity and financial stability, and Delaware gains homes that are affordable for generations to come.

A Comparison of Homeownership Models

Shared Equity Homeownership

DSCLT homeowners own their homes while DSCLT continues to own the land. Each owner has a 99-year ground lease for the land at a nominal fee of $40 a month. This shared equity arrangement is the key to keeping the home affordable from the first owner to the next and so on. See Plain Language Summary of DSCLT Ground Lease.