Incorporation Press Release
FOR IMMEDIATE RELEASE: 29 January 2021
Headline/Subject: New Land Trust Created in Ottawa to Secure Affordable Housing in Perpetuity
The Ottawa Community Land Trust (OCLT) was officially incorporated as a non-profit organization on January 7, 2021. The OCLT will acquire and hold land to be used for affordable housing. It will serve as a long-term steward for affordable housing in the City of Ottawa. The role of the OCLT is important as the City continues to see a loss of affordable housing stock and a growing waitlist for affordable housing.
A land trust is a not-for-profit corporation that owns and manages land for affordable housing indefinitely. It removes property from the competitive market, and brings together sector resources to preserve and create assets that benefit the community. This can result in a range of housing opportunities, including housing co-operatives, non-profit rental housing and affordable homeownership.
The OCLT has three founding Board of Directors members: Dennis Carr, Jovette Fournier and Laine Johnson.
“The OCLT is exciting for Ottawa as it aims to both preserve the existing affordable housing stock while catalyzing new development. It offers the current housing system in Ottawa, with deep knowledge and experience, the opportunity to come together in collaborative leadership under a new model that defends housing as a human right and a public good.” – Founding Board of the OCLT
Incorporation of the OCLT was accomplished after several years of work from those in the affordable housing sector.
The OCLT received seed funding from the Co-operative Housing Federation of Canada and CHASEO as well as accounting and corporate support from Centretown Citizens Ottawa Corporation. The OCLT was also awarded a $150,000 grant from the Community Housing Transformation Centre’s (CHTC) Sector Transformation Fund. This financial support allowed OCLT to hire a Project Manager, Cahdco and a Project Evaluator, the Social Planning Council of Ottawa.
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