There are important unanswered questions for DevNW about their Community Land Trust’s resale formula, equity terms, and organizational capacity for the Floral Hill Terrace development.

Has DevNW publicly disclosed the specific resale formula that will apply to Floral HillTerrace’s homes, in the same plain-language manner that is standard practice among Community Land Trusts nationally?

For example,

Big River Community Land Trust publishes a resale formula of 1.5% compounded annual maximum price increase directly on its website with a worked example;

Madison Area Community Land Trust publishes an equally simple formula (initial purchase price plus 1% simple interest per year owned, plus qualified capital improvements) in its public homebuyer guide.

DevNW’s current public materials describe the resale mechanism only in general terms without stating the actual formula or percentage. DevNW needs to disclose this figure and it needs to be made part of the public record.

Also, has DevNW’s Floral Hill Terrace ground lease been submitted for, or is expected to qualify for, inclusion in Fannie Mae’s Certified Shared Equity Program list or Freddie Mac’s equivalent certification. This certification process requires documentation of a CLT’s governance and ground lease structure and would serve as a meaningful, independent indicator of organizational capacity.

Separately, given that Floral Hill Terrace’s proposed 36-40 units would substantially exceed the scale of DevNW’s prior Community Land Trust developments (6 units in Cottage Grove, 12 units in Florence), it seems prudent that the City and/or Business Oregon document the specific stewardship plan, staffing, and enforcement capacity that will support long-term maintenance and ground-lease compliance at this new scale, including what happens if compliance lapses.