Questions? Answers.

Proud Ground is a state-certified nonprofit organization that provides affordable homeownership opportunities for people who work and live in our community.

Working with community partners, lenders, builders, and others, we prepare families and individuals for homeownership; administer funding to create affordable homebuying opportunities; offer homeowners tools to be successful; and, ensure the permanent affordability of the homes in our portfolio. Proud Ground utilizes the Community Land Trust model of permanent affordability, an approach to affordable homeownership that is used in more than 200 communities around the country.

Proud Ground makes homeownership affordable through investing public funds in homes. Subsidy funds can come from the various municipalities in our service area-cities, counties, states. Some level of public funding is required to create an affordable homeownership opportunity.

Proud Ground serves the entire Portland Metropolitan Region of Clackamas, Clark, Multnomah, and Washington Counties.

With prices out of reach for many families, we believe that the best way to ensure that there is a growing supply of affordable homes, and the best way to combat escalating neighborhood displacement, is to KEEP homes affordable, resale after resale. So, a home bought through Proud Ground is affordable today and it will be affordable for future generations. In fact, Proud Ground homes are so affordable that the monthly payments on a Proud Ground home are often less than a family was paying in rent.

In exchange for a reasonable purchase price (about $60,000 to $100,000 LESS than a market-rate home), homeowners agree to resale arrangements that provide a seller with a share of the homes equity while ensuring the home remains affordable for another moderate-income homebuyer.
This arrangement is guaranteed through a legal agreement between Proud Ground and the homeowner. Homebuyers review these legal agreements with an attorney independent of Proud Ground to understand all the details before buying a home.

Using data from Zillow regarding home values in every zip code where there is a Proud Ground home, and applying Proud Ground’s resale formula that provides sellers with a share of a home’s equity, plus what they’ve paid toward their mortgage principal and down payment, we’ve estimated that a Proud Ground homeowner who has owned their home for 10 years or more would earn an average of $60,000 at resale.
Proud Ground homebuyers are first-time homeowners who are income-qualified (see qualifications for details). They have steady incomes and access to credit but incomes that are not high enough to purchase a home the traditional way in today’s pricey market. Each Proud Ground homeowner shares an important goal: to own a home of their own.

▪ You own your house.
▪ You have a mortgage with a bank.
▪ You accumulate equity.
▪ You enjoy the tax benefits of homeownership.
▪ You pay property taxes, though they may be less.
▪ You are free to remodel and improve your home and yard.
▪ Your home can be inherited.

▪ The purchase price is much, much lower – usually about $60,000 to $100,000 less than a market-rate home.
▪ In exchange for an affordable purchase price, if you sell your home, you agree to sell at an affordable price to the next homeowner.

Proud Ground homeowners pay property taxes. However, given the unique agreement between Proud Ground and the homeowner, the property is often taxed at a reduced rate in Multnomah County.
As with all Oregon homeowners, the property taxes and the interest portion of the mortgage payment are tax deductible on state and federal income taxes.

▪ Represent Proud Ground homebuyers.
▪ Participate in Proud Ground’s Realtor referral program.

For more information, contact Tyler Koski at 503-493-0293 x11

Community Land Trusts are nonprofit organizations that help make homes and other things (such as community gardens, commercial space, affordable housing) affordable and accessible. For most CLTs, affordable housing is the highest priority. There are over 250 CLT programs across the country, serving communities from small towns to large cities.

From Wikipedia: “The first organization to be labeled with the term ‘community land trust’ in the U.S., called New Communities, Inc., was founded with the purpose of helping African-American farmers in the rural South to gain access to farmland and to work it with security.”

For more information about CLTs, visit the National Community Land Trust Network (which has merged with Cornerstone Partnership and is now Grounded Solutions Network) or Wikipedia.

“Homeownership can be a very savvy financial move – but only if people buy homes they can actually afford.” Forbes, 2014