In 2005 Community Legal Resources initiated work on the Affordability Preservation Project, a continuation of the Community Land Trust Project. A team of expert lawyers was empanelled to conduct a year-long research project to study affordability preservation models alternative to community land trusts, such as deed restrictions, soft second mortgages and condominuims.

The Community Legal Resources Affordability Preservation Project was sponsored in large part by the Michigan State Housing Development Authority and the Michigan State Bar Foundation*.

PRODUCTS

The products of the CLR Affordability Preservation Project can be downloaded by clicking on the title of the document:

Introductory Documents

• Introduction to the CLR Affordability Preservation Project
• Final Recommendations of the Attorney Team

Deed Restriction Model

• Introduction to the Use of Deed Restrictions
• Sample Warranty Deed
• Declaration of Affordability Restrictions
• Sample Use Agreement for HOME Funds

Mortgage and Note Model

• Introduction to Use of Mortgage and Note
• Sample Mortgage
• Sample Promissory Note

Condominium and Limited Equity Cooperative Model

• Introduction to Use of Condo Master Deed and Bylaws
• Sample Condominium Master Deed
• Sample Condominium Bylaws
• Condominium Affordable Housing Restriction

Summaries of All Models Studied

• Community Land Trust
• Condominium and Limited Equity Cooperative
• Deed Restriction
• Mortgage and Note
• Statutory Affordable Housing Covenant

Information for Homebuyers and Additional Resources

• Homebuyer's Disclosure and Acknowledgment
• Homebuyer's Guide to Affordable Housing Restrictions
• Additional Reading
  

APP TEAM ATTORNEYS

Community Legal Resources thanks the following attorneys-- and their law firms and corporate employers-- who volunteered their time and resources to the Affordability Preservation Project:

• Michael Donovan, LaMont Title Corporation
• Mickey Friedman, Bodman LLP
• Debra Geroux, Butzel Long
• Vicki Harding, Pepper Hamilton LLP
• Catharine LaMont, LaMont Title Corporation
• Rochelle E. Lento, Dykema
• Mitch Meisner, Honigman Miller Schwartz and Cohn LLP
• Will Moseng, Michigan State Housing Development Authority
• Thomas Nowinski, Clark Hill PLC
• Randy Perry, Bodman LLP (retired)
• Laura Weingartner, Dykema PLLC
• Glen Zatz, Comerica Bank

 
*The Michigan State Bar Foundation’s funding for this project and related materials does not constitute an endorsement of any content or opinion expressed in it.