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June 5, 2007

Northwood Renaissance Helps Public School Teacher to Become a Homeowner Through the Community Land Trust

West Palm Beach, Florida- Northwood Renaissance client and Public School Teacher Jean Bayol on Friday, May 25, 2007 purchased a Community Land Trust (CLT) home in the City of West Palm Beach.  The agency partnered with various public and private entities in the community to empower Jean to obtain homeownership.  Included amongst the entities participating in Northwood Renaissance’s CLT program and that provided Mr. Bayol’s down payment assistance or mortgage financing are the Palm Beach County First-Time Homebuyer Program, Harris Bank, and LISC. 

Northwood Renaissance’s Community Land Trust provides a valuable solution to the lack of available workforce housing in West Palm Beach and Palm Beach County as a whole.  This program strives to ensure that homeownership can be within reach of many more low-income and working families in the community.   The CLT accomplishes this by reducing the cost of the actual housing by removing the price of land from the purchase price of the home.  The Community Land Trust has the additional added benefit of expanding the reach of all programs for first-time homebuyers due to the lower amount of down payment assistance needed for the purchase therefore increasing the overall number of families that have the opportunity to own a home.  This program of Northwood Renaissance additionally provides long-term benefits to the community as a whole by preserving the affordable housing stock and the funds used to actually build the homes for future generations through the trust.
Mr. Bayol is a Kindergarten teacher at Orchard View Community Elementary and he has been with the School District for four years. As an immigrant to this country, he has worked very hard to be able to achieve the ultimate of American Dreams, homeownership.  After watching a local news story about the Northwood Renaissance Community Land Trust, Jean attended one of the agency’s CLT orientations.  He was drawn to the organization and the Community Land Trust program because of the difficulty he had had attempting to find a quality home within his means.
Northwood Renaissance is in the process of completing additional homes through the Community Land Trust for purchase by first-time homebuyers just like Mr. Bayol.  The next Orientation Meeting for the CLT will be held June 20th and July 18th from 6 pm to 8 pm at one of the actual CLT homes located at 714 52nd Street, West Palm Beach, FL  33407.  For additional information about the Community Land Trust and to reserve your spot at an Orientation Meeting please call Christina Hewitt, Community Land Trust Manager, at (561) 832-6776, extension 107.

Contact: Christina Hewitt, Community Land Trust Manager
(561) 832-6776, extension 107