PAHA is forming public and private alliances to create a new path to homeownership for low-to- moderate-income workers and seniors. Our goal is to establish a local supply of homes that are affordable now and for generations to come.
PAHA will achieve this through two unique programs based on qualified incomes: Community Land Trusts and Property Development Alliances. Both provide alternatives to a standard home purchase that reduce the initial cost of a home. (see box below)
In these programs, PAHA manages long-term restrictions placed on the title deed or a land lease. Owner occupation is required. The percentage of market appreciation a seller can earn is capped at a fair return.
The remaining equity is shared with PAHA and is used to keep the homes affordable for future income-qualified buyers. “Sharing the equity” lets PAHA help area workers get into a home over and over again.