OVERVIEW: The First Community Land Trust of Chicago is the only land trust in Chicago providing permanently affordable single-family homes for first-time homebuyers. The First Community Land Trust of Chicago (FCLTC) was incorporated in 2003 for the purpose of constructing single-family homes to be owned by households earning between 50-60% of the metropolitan median income. In addition to home ownership, FCLTC has programs designed to foster active community engagement, and provide training and one-on-one mentoring in household strategic financial planning. Our program is designed to keep these homes permanently affordable. The intention is to provide quality affordable homeownership in a low-income community and to provide the training and support programs that can help move residents into the economic mainstream.
HISTORY: Increasing rates of unaffordable housing was an issue brought before the West Humboldt Park Development Council by the community during a strategic planning meeting in December 2002. Further analysis showed that rising property values were likely to skyrocket in the next decade as development and gentrification pushed in from the East. The First Community Land Trust of Chicago is designed to give area residents more control over the development of their neighborhood so that development reflects the needs and desires of the community.
Not only with the Trust ensure the availability of affordable property as the neighborhood improves, but it is also designed to attract other non-housing assets that would benefit the community, such as enhanced educational opportunities, job training, a community center and more green space. Finally, younger generations in West Humboldt Park are experiencing difficulties moving into home ownership due to rising property values, lack of living wage job opportunities and economic change. The Trust is designed to create homeowners out of those who would not otherwise have the opportunity to own property, to sustain them in their endeavor through training and support programs, and to provide all members with opportunities to participate in community planning and development.
MISSION: To empower community residents to help set the course of development in their community, increase the availability of affordable homes in West Humboldt Park, and to improve the over-all quality of life in West Humboldt Park.