One of Mosaic’s foundations is encouraging and facilitating sustainable housing in Pottstown.
The Community Land Trust Model
The Community Land Trust Model of homeownership involves a homeowner purchase of the structure while the CLT retains ownership to the land, and the homeowner leases it from the CLT. A buyer must be income qualified (earning between 80-100% of AMI), and agree to the terms of the 99-year land lease, which include: the homeowner being allowed to do what they choose with the land and keeping the value of any improvements at the time of resale; the CLT will have right of first refusal at the time of resale; new homeowner must also be income qualified. In this way, the home will remain more affordable than surrounding properties for the full term of the 99-year lease, and lower-income buyers will have opportunities to purchase a home where they may not otherwise, a sustainable model for many years to come.
Mosaic Community Land Trust Homes Program
In 2017, Mosaic and Genesis Housing partnered for a project in the Mosaic Home Buyer Program (now the Mosaic Community Land Trust Homes Program), a home on Queen Street rehabbed by Genesis. Mosaic helped to make it more affordable for a homeowner by subsidizing the closing costs in exchange for the home remaining a primary residence for no less than 5 years and the homeowner becoming a fully participating member of Mosaic. If the home is sold before the term is up, the homeowner must repay a pro-rated amount of the closing cost subsidy. In addition, Mosaic also provided beautiful landscaping at the property and will provide garden mentoring if the homeowner should request it for the period of one year.
How Mosaic is Helping Pottstown
Mosaic Community Land Trust will always be a voice for long-term affordable housing in Pottstown. Through our work with the Pottstown Housing Coalition, the Pottstown Land Bank effort, and partnerships with Genesis Housing and Habitat for Humanity of Montgomery County, Mosaic will remain at the forefront of making sure those with lower incomes have the opportunity to build wealth through homeownership, and we will promote homeownership as a means of community revitalization. Pottstown is home to people of all incomes, and they all have a right to decent, safe homes they can afford. Mosaic will continue to advocate for inclusive language to be added to or remain in Borough and County planning documents and regulations.If you want to help us in this endeavor, get involved.