HOMESTEAD COMMUNITY LAND TRUST

This successful land trust organization was established in Seattle based on the idea that housing affordability could be maintained if homeowners agreed to forego future speculative profits for their house, in exchange for lower cost houses today. This is accomplished by the land trust maintaining ownership of the land, selling a reduced-price home to the owner and that owner agreeing that any re-sale of the house must be at a rate below market. Stephen donated professional time and assistance to the Trust in its initial years in crafting a series of base agreements and transaction documents that would govern these transfers, along with advising on technical aspects of purchasing houses slated for demolition, moving houses to new sites and related code issues.

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