Lexington Community Land Trust Inc
P.O. Box 171
Lexington KY 40588
Contact Information
Nonprofit Lexington Community Land Trust Inc
Address P.O. Box 171
Lexington, KY 40588
Phone (859) 303-5223
Fax 859 303-5227
Contact Name Barbara Navin
Web and Social Media
Davis Park View, Lexington CLT's first rental homes
At A Glance
IRS Ruling Year 2013
Other ways to donate, support, or volunteer
If you join us as a CLT Member, you can serve on Board Committees, elect and serve on the Board of Directors, vote on matters brought to the Membership at the Annual Membership Meeting. Members are also asked to either contribute a small amount as Membership dues or volunteer their time in lieu of monetary dues. 
 
Membership dues are 2016-2017 are $10/individual; $25 for a household. Volunteer time will be recognized as payment for monetary dues, with each volunteer hour being worth $10 of dues.
 
In-kind donations of a web design help, duplex color printer, landscaping and other maintenance-related labor are appreciated greatly.
 
Donations are accepted by check and online at our website through secured processor PayPal. 
Financial Summary
 
 
Statements
Mission Statement

The Lexington Community Land Trust is a nonprofit organization established in 2008 to create and preserve a supply of permanently affordable homes for households otherwise priced out of the market in Fayette County, Kentucky.

The Lexington Community Land Trust (LCLT) will operate as a community land trust (CLT) – a mechanism to assist limited-income households to buy or rent quality, energy efficient homes at affordable prices. Like the majority of the other 250+ CLTs operating in 48 states around the country – Lexington CLT has three main objectives:

1. To provide opportunities for low-income families and individuals in Fayette County to access decent, permanently affordable housing.

2. To foster the availability of a combination of owner-occupied and rental housing that meets diverse needs.

3. To preserve the quality and affordability of housing for successive owners and renters through land leases and covenants.

Lexington CLT will develop homes on Lexington CLT-owned land, beginning with the Davis Park neighborhood, where it will provide approximately 100 permanently affordable homes; both replacement homes for residents impacted by the Newtown Pike Extension project, as well as homes for other income-qualifying Fayette County residents. Through the use of a long-term, renewable land lease containing a home resale formula, subsidy dollars are retained in the home and land, allowing the home to remain affordable permanently, without the need for additional subsidies. Homebuyers will purchase at affordable prices, and build wealth through equity and a portion of market appreciation. The resale formula ensures that the home will remain affordable, owner after owner. The Lexington CLT will also lease CLT-owned land in Davis Park to nonprofit organizations and businesses that serve the interests of the community. 

Background Statement

Lexington Community Land Trust (LCLT) was incorporated by the Newtown Pike Extension (NPE) Project in 2008 firstly, to provide and manage, in perpetuity, permanently affordable homeownership and rental homes in the historically low-income Davis Bottom neighborhood. The community land trust model was chosen as the best means of providing permanently affordable housing and addressing residents’ concerns about gentrification, as it removes the land from the speculative market. The approximately one hundred quality, energy-efficient homes to be built will serve two purposes: (1) to provide replacement homes for original residents of the Davis Bottom neighborhood and (2) to increase Lexington’s stock of affordable housing. Lexington CLT will develop permanently affordable ownership homes in greater Lexington and Fayette County in future years.

The Davis Bottom neighborhood, long housing one of the lowest-income populations in Lexington, is disproportionately impacted by the adjacent NPE road project. The 26-acre portion of the Davis Bottom neighborhood known as the NPE Project’s Social Justice Mitigation Area is the area in which Lexington CLT will assume ownership of the land, excluding a six-acre city park. The Project will re-grade the entire tract of land to prevent flooding and will install new infrastructure. In addition to new, permanently affordable housing, Lexington CLT will partner locally to build retail and non-profit spaces for organizations that will benefit the neighborhood.

Lexington CLT hired its Executive Director in mid-2011. The organization spent its first year obtaining 501(c)3 status, developing strategic plans, preparing for the upcoming development projects, and initiating community building and housing preparation activities with the original residents, living either in their original homes in Davis Bottom or in the Temporary Housing mobile home park built in 2008 in the mitigation area. These activities continued until the transfer of the first land parcel to LCLT in April 2014, when construction on Davis Park View rentals began. LCLT hired its second employee, a half-time administrative assistant in 2013. In 2014, the administrative assistant position became a full-time Administration and Services Coordinator. The current staffing level consists of two full-time, salaried employees.

In 2014, Davis Park View rentals, a Low-Income Housing Tax Credit project, were completed and AU management successfully leased the 14 units to low-income residents from Davis Bottom and the surrounding county.  In 2015, construction began on five ownership homes. One was completed through a partnership with Habitat for Humanity, who built a CLT-designed home for a low-income original resident. The other four homes were completed by James Monroe Homes. In spring 2016, four original residents purchased the CLT homes. One original resident will rent the fifth CLT single-family home for up to ten years. 
 
 
 
 
 
Impact Statement

 

Top Accomplishments of 2015:
1. Successfully hosted the 2015 National Community Land Trust Network Conference for nearly 300 attendees in October 2015, highlighting the intersections between transportation projects and permanently affordable housing.
2. Began construction on Habitat for Humanity/CLT Pilot home that served homebuyer below 60% Area Median Income.
3. A local builder broke ground on four single-family CLT ownership homes to be occupied by original residents of Davis Bottom.
Top Goals for 2016:
1. Complete and sell the first five Community Land Trust homes in Kentucky to original residents of Davis Bottom.
2. Host our first Annual Meeting as a Membership Organization at which Davis Park renters and homeowners along with community stakeholders elect our new Board of Directors.
3. Work with architect to create plan for new CLT building
4. Contract with additional homebuyers to begin construction of CLT homes in 2017.
5. Expand CLT Membership through recruitment and outreach to community members.
Service Categories
Secondary Organization Category Community Improvement, Capacity Building / Community & Neighbourhood Development
Tertiary Organization Category Housing, Shelter / Low-Income & Subsidized Rental Housing
Geographic Areas Served
Areas
Fayette County
Board Chair
Board Chair Norman Franklin
Company Affiliation Lexington-Fayette County Urban League
Board Members
NameAffiliationStatus
Michele Baker Davis Park ResidentVoting
Tom Blues RetiredVoting
Pam Clay-Young Kentucky Transportation CabinetVoting
Arthur Crosby Lexington Fair Housing CouncilVoting
Kenneth Demus RetiredVoting
Ken'Yale Demus Davis Park ResidentVoting
Larry Forester Community Trust BankVoting
Councilman Jake Gibbs Lexington Council 3rd DistrictVoting
Connie Godfrey Adult and Tenant ServicesVoting
Alex Hicks Community VolunteerVoting
Byron Mitchell Davis Park ResidentVoting
Cassandra Moore Davis Park ResidentVoting
Carol Shanklin Federal Highway AdministrationVoting
Joan Whitman Whitman RealtorsVoting
Board Demographics - Ethnicity
African American/Black 9
Asian American/Pacific Islander 0
Caucasian 5
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Board Demographics - Gender
Male 8
Female 7
Unspecified 0
Governance
Board Term Lengths 2
Board Term Limits 3
Board Meeting Attendance % 76%
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 0%
Percentage Making In-Kind Contributions 93%
Constituency Includes Client Representation Yes
Number of Full Board Meetings Annually 6
Standing Committees
Executive
Comments
CEO Comments Board term lengths and term limits went into effect on June 2016 at the Annual Membership Meeting after the new Board was elected. At that point, the following will apply:

Terms of Directors

a. Terms of First Elected Directors. After the election of Directors at the first Annual Meeting following the first homeowners moving into their homes in the Southend Park Urban Village, each Director shall be assigned, by mutual agreement or by lot, to a one-year or two-year term. In each of the three categories of Representatives, two Directors shall be assigned a one-year term and the other Directors shall be assigned a two-year term.

b. Terms of Successor Directors. Except as otherwise provided in these Bylaws, each Director shall serve a full term of two years.

c. Commencement of Terms. The term of office of a regularly elected Director shall commence at the adjournment of the Annual Membership Meeting in which he or she is elected. The term of office of a Director elected by the Board to fill a vacancy shall begin at the time of his or her acceptance of the position.

d. Reelection. No person shall serve as a Director for more than three consecutive elected terms. After a two-year absence from the Board, however, a person who has served three consecutive elected terms may return to the Board, if reelected, and may serve up to three consecutive elected terms.

CEO/Executive Director
Executive Director Barbara Navin
Term Start July 2011
Email bnavin@lexingtonclt.org
Experience

Barbara Whitaker Navin became Lexington Community Land Trust’s first employee and Executive Director in July 2011. Her Community Land Trust (CLT) background derives from more than seven years at Thistle Community Housing in Boulder, Colorado, where she directed the CLT program, stewarding a portfolio of over two hundred homes. She led Thistle’s participation, as a selected study site, in Urban Institute’s 2010 Shared Equity Homeownership Evaluation. Her earlier experience in Real Estate transactions and residential appraisals has informed her work with affordable housing both in Colorado, and here in Kentucky. Ms. Navin led Lexington CLT’s LIHTC partnership with AU Associates for the creation of Davis Park View, the first rental project within Davis Park in Lexington. She is a National Development Council-certified Housing Development Finance Professional and holds a Bachelors of Science from Cornell University.

Staff
Full Time Staff 2
Part Time Staff 0
Volunteers 2
Contractors 1
Retention Rate 100%
Management Reports to Board? Yes
Staff Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 2
Hispanic/Latino 0
Native American/American Indian 0
Other 0
Staff Demographics - Gender
Male 0
Female 2
Unspecified 0
Formal Evaluations
CEO Formal Evaluation Yes
CEO/Executive Formal Evaluation Frequency Annually
NonManagement Formal Evaluation Yes
Non Management Formal Evaluation Frequency Annually
Description

Lexington CLT’s homeownership program targets Fayette County residents of low to moderate income. All qualified applicants:

· Complete a HUD-certified home buyer training course

· Meet income and asset limitations and be mortgage ready

· Attend an LCLT Orientation, explaining the LCLT Land Lease and the resale formula

Qualified applicants may contract to buy a CLT home, or enter a first-come, first-served prioritized waitlist to buy later. Applicants who have not purchased within six months may recertify.

At closing, homebuyers sign a 99-year, renewable Land Lease, which is recorded. The Land Lease contains the resale formula, which governs the amount for which the home can be sold in the future. LCLT is a membership-based organization. All homeowners are automatic members of LCLT. Homeowners and renters elect the Board of Directors, may serve on Board Committees, and after one year as a LCLT owner, may be nominated as a candidate for a member of the LCLT Board of Directors. 

Category Housing, General/Other Affordable Housing
Population Served , Families,
Description

Lexington CLT’s rental program is managed by AU Management, a subsidiary of our Davis Park View LLLP partner, AU Associates. Currently AU Management accepts and processes rental applications for Davis Park View. The income limit for Davis Park View is 60% of Fayette County’s Area Median Income adjusted by household size. Davis Park View is comprised of fourteen low-income housing tax credit units in six buildings: one three bedroom single-family Cottage, one four bedroom single-family Bungalow, eight two-bedroom Fourplex apartments, and four two-bedroom Townhome apartments. AU Management accepts preliminary information from interested households for waitlist purposes.

LCLT is a membership-based organization. All renters are automatic members of LCLT, elect the Board of Directors, may serve on Board Committees, and, after one year as renters with LCLT, may be nominated to serve on the LCLT Board of Directors.

Category Housing, General/Other Affordable Housing
Population Served , ,
Plans & Policies
Organization has a Fundraising Plan? No
Organization has a Strategic Plan? No
Management Succession Plan? No
Organization Policy and Procedures Yes
Nondiscrimination Policy No
Whistleblower Policy No
Document Destruction Policy No
Affiliations
AffiliationYear
Kentucky Nonprofit Network2013
Affiliate/Chapter of National Organization (i.e. Girl Scouts of the USA, American Red Cross, etc.) - Affiliate/Chapter2011
Fiscal Year
Fiscal Year Start July 01, 2016
Fiscal Year End June 30, 2017
Projected Revenue $315,520.00
Projected Expenses $208,703.00
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available). Revenue from foundations and corporations may be included in individual contributions when not itemized separately.
Fiscal Year201620152014
Foundation and
Corporation Contributions
------
Government Contributions$250,000$250,000$250,000
Federal------
State------
Local------
Unspecified$250,000$250,000$250,000
Individual Contributions$137,422$18,560$10,796
$0--$0
$35$50$0
Investment Income, Net of Losses$5,261$4,659$5,275
Membership Dues$0--$0
Special Events$0--$0
Revenue In-Kind$0--$0
Other$7,200$4,200$2,858
Expense Allocation
Fiscal Year201620152014
Program Expense$239,144$145,554$104,621
Administration Expense$49,384$48,364$40,465
Fundraising Expense$0--$0
Payments to Affiliates------
Total Revenue/Total Expenses1.391.431.85
Program Expense/Total Expenses83%75%72%
Fundraising Expense/Contributed Revenue0%0%0%
Assets and Liabilities
Fiscal Year201620152014
Total Assets$2,216,197$1,237,795$926,143
Current Assets$1,603,874$761,717$679,097
Long-Term Liabilities$591,151--$0
Current Liabilities$253,330$3,969$2,944
Total Net Assets$1,371,716$1,233,826$923,199
Form 990s
2016 Form 990
2015 Form 990
2014 Form 990
2013 Form 990
2012 Form 990
2011 Form 990
Audit Documents
2016 Final Audit
2015 Final Audit
2014 Final Audit
2013 Final Audit
2012 Final Audit
Capital Campaign
Currently in a Capital Campaign? No
Capital Campaign Anticipated in Next 5 Years? No
State Registration Yes
Address P.O. Box 171
Lexington, KY 40588
Primary Phone 859 303-5223
Contact Email info@lexingtonclt.org
CEO/Executive Director Barbara Navin
Board Chair Norman Franklin
Board Chair Company Affiliation Lexington-Fayette County Urban League