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California Puts up $500 Million for Community Ownership Against Big Real Estate

California Puts up $500 Million for Community Ownership Against Big Real Estate
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El Sereno Trust Acquires Property for Those In Danger of Homelessness

By City News Service
May 20, 2021
LOS ANGELES (CNS) - The El Sereno Community Land Trust, which consists of some of the neighborhood s residents and stakeholders, announced today that it acquired its first property as part of a pilot program to protect people in danger of falling into homelessness.
The multifamily apartment building in Alhambra will be restored and converted into an equity sharing ownership structure with grant funds invested by the trust. Information about the cost and location of the property was not immediately available.
Member Alejandra Liera described the trust and similar ones as “nonprofits that acquire property, taking them off the speculative market and putting them in the hands of the community to prevent evictions and ensure permanent affordable housing. ....

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El Sereno Trust Acquires Property for Those In Danger of Homelessness

El Sereno Trust Acquires Property for Those In Danger of Homelessness
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El Sereno , United States , Los Angeles County , Alejandra Liera , Paulina Gonzalez Brito , Sua Hernandez , California Reinvestment Coalition , El Sereno Community Land , Community Land , Pilot Community Land Trust Partnership Program , La County Development Authority , Community Land Trusts Coalition , Los Angeles County Board , Development Authority , Community Land Trusts , எல் செரினோ , ஒன்றுபட்டது மாநிலங்களில் , லாஸ் ஏஞ்சல்ஸ் கவுண்டி , பலீந கோன்சலஸ் பிரிட்டோ , சூஅ ஹெர்னாண்டஸ் , கலிஃபோர்னியா மறு முதலீடு கூட்டணி , எல் செரினோ சமூக நில , சமூக நில , லா கவுண்டி வளர்ச்சி அதிகாரம் , லாஸ் ஏஞ்சல்ஸ் கவுண்டி பலகை , வளர்ச்சி அதிகாரம் ,