Affordable Housing Conservation Easement
A concept proposed by @MossyBuddha on Medium, September, in "Borrowing from Habitat and Rural Land Preservation: Affordable Housing Conservation Easements for San Francisco (and beyond)." , Medium, Sep 16, 2015:
"Conservation easements are among a collection of vital tools used by land preservation organizations to protect rural working landscapes and habitat from subdivision and development. In California, more than 651,000 acres of land was conserved under easements to state and local land trusts in 2010 according to the Land Trust Alliance’s Census, and that number will certainly have grown by completion of the 2015 Census."
"Extending the concept to San Francisco with a focus on existing residential uses, provides a way to dramatically and cost effectively increase affordable housing preservation efforts without having to acquire fee title to property.
"The Affordable Housing Conservation Easement (AHCE) is envisioned to partially address [eviction concerns] by unbundling the property’s Ellis Act and owner-move-eviction rights from the ownership of the underlying property. Under such an approach, non-profit housing organization would acquire an AHCE using a mix of cash and tax benefits, while leaving the owner with the real property along with the rights to future cash flows as units turn over."
References
- MossyBuddha. (Medium user). "Borrowing from Habitat and Rural Land Preservation: Affordable Housing Conservation Easements for San Francisco (and beyond)." , Medium, Sep 16, 2015. https://medium.com/@MossyBuddha/borrowing-from-habitat-and-rural-land-preservation-affordable-housing-conservation-easements-for-ec3ce4a5aa4c.