DAKOTA LAND TRUST

DAKOTA LAND TRUST CREATES OPPORTUNITIES AND FOSTERS STEWARDSHIP OF PERMANENTLY AFFORDABLE HOUSING FOR LOW-INCOME AND MODERATE-INCOME FAMILIES AND INDIVIDUALS. WE ARE DESIGNED TO PROVIDE VOLUNTARY ASSISTANCE FOR WORKING FAMILIES BY PROVIDING EQUITY FUNDING TO PERMANENTLY REDUCE THE COST OF HOMES FOR QUALIFIED HOMEBUYERS BY REMOVING THE LAND COST FROM THE PURCHASE PRICE. LIMITED-INCOME HOMEBUYERS WILL PURCHASE THEIR HOME AND RECEIVE A 99- YEAR GROUND LEASE TO THE LOT ON WHICH THEIR HOME SITS - A LEASE THAT IS ASSIGNABLE TO QUALIFIED HEIRS AND RENEWABLE FOR A SECOND 99- YEAR TERM. WE PLACE EQUITY LIMITATIONS INTO THE GROUND LEASE AGREEMENT THAT RESTRICT THE RESALE PRICE OF THE HOUSING IN ORDER TO MAINTAIN ITS LONG-TERM AFFORDABILITY - IN AN ATTEMPT TO BALANCE THE COMPETING GOALS OF PROVIDING A FAIR RETURN ON THE INITIAL OWNER'S HOUSING INVESTMENT, ON THE ONE HAND, WHILE ASSURING THAT THE HOUSING UNIT IS KEPT AFFORDABLE FOR THE NEXT BUYER WITHOUT REQUIRING ADDITIONAL SUBSIDY, ON THE OTHER. IN SO DOING, THE BENEFIT OF THE INVESTMENT OF PUBLIC AND PRIVATE DOLLARS NEEDED TO CREATE AFFORDABILITY IS PRESERVED FOR GENERATIONS TO COME. THROUGH THIS PROGRAM, THE QUALITY AND AFFORDABILITY OF HOUSING FOR FUTURE LOW- AND MODERATE-INCOME RESIDENTS OF THE COMMUNITIES OF WESTERN SOUTH DAKOTA IS PRESERVED. IN ADDITION, WE ADDRESS COMMUNITY DETERIORATION IN ECONOMICALLY DISADVANTAGED NEIGHBORHOODS BY PROMOTING THE DEVELOPMENT, REHABILITATION, AND MAINTENANCE OF DECENT HOUSING IN THESE NEIGHBORHOODS; BY PROMOTING ECONOMIC OPPORTUNITIES FOR LOW-INCOME RESIDENTS OF THESE NEIGHBORHOODS; BY MAKING LAND AVAILABLE FOR PROJECTS AND ACTIVITIES THAT IMPROVE THE QUALITY OF LIFE IN THESE NEIGHBORHOODS; BY ASSISTING RESIDENTS OF THESE NEIGHBORHOODS IN IMPROVING THE SAFETY AND WELL-BEING OF THEIR COMMUNITY; AND BY PROTECTING THE NATURAL ENVIRONMENT AND PROMOTING THE ECOLOGICALLY SOUND USE OF LAND AND NATURAL RESOURCES AND THE LONG-TERM HEALTH AND SAFETY OF THE COMMUNITIES OF WESTERN SOUTH DAKOTA. AT DECEMBER 31, 2024, DLT HOLDS 29 PROPERTIES. FAMILIES HAVE BEEN PLACED IN HOMES AND LAND LEASES ON 25 OF THESE PROPERTIES. INCOME FROM THESE LEASES IS CHARGED AT BELOW MARKET RATES.