Olympic Housing Trust’s September Newsletter   In this issue: Building Sustainability That Lasts Dundee Hill Homebuyer Applications Available Now! Dundee Hill GRAND OPENING! 10/10@10 Dundee Hill: Key Delivery Seeking New Board Members What is a CLT, anyway?

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Building Sustainability That Lasts A letter from a Board Member When I joined the Olympic Housing Trust (OHT) board earlier this year, I found myself thinking about housing a little differently. I have experienced housing instability myself and have also spent much of my professional life working directly with folks, mostly young people, navigating housing and other barriers to stability. Those experiences have given me an understanding of what housing instability can look like at an individual level. Joining OHT has given me the opportunity to think about it from another perspective: what does it take to create lasting housing stability at the community level? One of the things that has stayed with me is how much becomes possible when housing is no longer uncertain. Stability can be easy to overlook when you have it. When you have experienced the opposite, you understand how much time and energy can be consumed by simply trying to get by, leaving little room to think beyond the immediate. Having a place where you can stay changes the kinds of decisions you are able to make about work, relationships, community, and the future. That is part of what makes OHT’s work particularly meaningful to me. We are not only working to create more housing in a community where it is increasingly difficult for many people to afford to stay. We are working towards a model where affordability is preserved over time, so that the benefit of a home does not end with one household. As a relatively new member of this board, and serving on a board for the first time, I am still learning how much goes into making that vision possible. I have been struck by the number of people, organizations and resources it takes to move a project from an idea to actual homes that remain affordable over time, and by the patience and persistence required along the way. I find myself thinking about the community members who will eventually live in the homes OHY is creating. Behind the numbers and project timelines will be people making plans, building relationships, raising families, caring for loved ones and the shared space(s), exploring who they are, pursuing what matters to them, and simply having the opportunity to stay. I know what housing instability can take from a person, which makes it especially meaningful to have a seat at the table for this work. I am grateful for the opportunity to continue learning and contributing as OHT works to create more opportunities for stability, belonging, and the ability to put down roots. I am also grateful for the community members who make this work possible – not only through financial support, but by showing up, staying informed, asking questions, sharing their perspectives and challenging us to think more deeply about how we can best serve the community. Thank you for continuing to invest in the future of housing in Jefferson County. It takes all of us to build something that lasts, and I am honored to be part of that effort. Dundee Hill Homebuyer Applications Available Now! The Dundee Hill Townhomes are now available for sale to eligible homebuyers. Start the Homebuyer’s Process Today! Views of the front (left) and rear (right) of the Dundee Hill Townhomes. Dundee Hill Townhomes are Olympic Housing Trust’s first affordable housing new build, made possible with the gracious help and donations of our community! And, they’re move-in ready! We offer: Three 3-bedroom homes, each at $232,000. Two 2-bedroom homes, each at $203,000. Homebuyer’s Process: Download the Homeownership Screening Form (Google Form). Screening Forms accepted September 7th–October 15th (5pm PDT). (This screening stage is not first-come-first-served.) Download the Homebuyer Manual (PDF). Learn more about what it takes to become a homeowner at Dundee Hill and application eligibility. Visit our Dundee Hill webpage for more information and the application timeline. Basic Eligibility Requirements (see Homebuyer Manual for full requirements): applicant must have lived in Jefferson or Clallam County for the year prior. earn at or below 80% area median income (AMI) of Jefferson County. be able to afford all housing expenses without being cost burdened, including mortgage payments. be a first-time home buyer, or not have owned a house in the past 3 years (as defined by HUD). qualify for a home mortgage loan. complete a HUD-certified homebuyer education course. Dundee Hill GRAND OPENING & Tours! Join us Saturday, October 10th, at 10am! Tour the Homes on 10-10 @ 10am Join us Saturday, October 10th at 10am for the Dundee Hill Grand Opening. Take a tour of these homes and learn more about applying to own one of these affordably priced homes. Address: 2800 Hendricks Street, Port Townsend, WA 98368 (map) Visit Our Website Event Page

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Dundee Hill: Key Delivery We’ve achieved our Certificate of Occupancy! Last week, Olympic Housing Trust met with our General Contractor, Anderson Homes, to do a ceremonial key delivery for the Dundee Hill Townhomes! Members of Olympic Housing Trust and Anderson Homes joined in a group photo to officially open Dundee Hill Townhomes to the Port Townsend community. We at Olympic Housing Trust are so pleased with the hard work all of our partners contributed and are so excited to share it with you at our Grand Opening next month (link to our event page). We couldn’t be happier with how it’s turned out.   Learn More Seeking New Board Members Join Our Board of Trustees! Olympic Housing Trust is seeking additional trustees to join our board. If you would like to learn more about joining our Board of Trustees and help continue steering our organization toward our goal of creating sustainable, permanently affordable housing on the Olympic Peninsula, click the link below to send us an email inquiry. Inquire via Email: info@olympichousingtrust.org What is a CLT, anyway? A lot of folks ask us what a Community Land Trust (CLT) is, how it works, and who it’s for. You know that feeling when you know something is a good idea, but just can’t quite describe it when your friend asks? Read more to learn more and share it with others! What is a CLT? A Community Land Trust (CLT) is a non-profit, community-based organization that holds land for the community, to be permanently removed from the speculative market. The primary focus of a CLT is to steward land for affordable housing, but can extend beyond housing to other uses that apply to the preservation of shared community wealth. How do we make a CLT work for our community housing needs? A primary arrangement for a CLT project is where the CLT receives land (either by donation or purchase) and the land is then held permanently in trust. A qualified applicant purchases the house and signs a 99-year ground lease agreement with the CLT to use the land the house sits on. The homeowner owns the home outright, holding the deed in their name. If the homeowner chooses to sell at any time, to ensure the home remains affordable for future generations, the agreement limits how much the property can be resold for—typically capping profit gains at just 1.5% annually. By keeping the resale price tied to this modest formula rather than a skyrocketing real estate market, the home stays genuinely affordable for the next family, then the next, then the next… locking in community affordability forever. Applicants for housing on CLT land would need to meet a few qualifying requirements, including a prescribed income target that is set by the CLT at the time of sale, typically below 80% AMI (Area Median Income) and be in need of housing that is otherwise unaffordable on the open market. (AMI in Jefferson County, WA in 2026 is $107,000, according to HUD.gov) The CLT model is typically used for the sale of homes to low-to-moderate-income recipients but can also be used to steward rental properties. CLTs can also be developers, making improvements to land through financing and subsidies. CLTs can hold land for any purpose that is for community benefit, such as commercial spaces, community gardens, community arts spaces, etc… Organizational Structure of a CLT The CLT is a non-profit, membership organization, governed by a board of trustees. Anyone can be a member and have the power to vote on board appointments. The bylaws designate that 1⁄3 of the board be homeowners. This allows the CLT to be led by the values of the community through an open, democratic process. And that’s how CLTs work! There are many of them all over the USA to help curb the housing crisis and promote community benefit. Impress your friends with this knowledge at your next party! If you’d like to support this work in a steady, meaningful way, please consider a simple monthly gift to the Olympic Housing Trust.  Monthly giving allows us to plan our operations with confidence and keep projects moving forward month by month. Donate Now Thanks for your time and dedication,Our Board of Trustees: Emily Abell Bob Alei Ted Howard Tirzah Juskalian Audrey Morford Sam Schroeder Our Staff: Kathy Morgan, Executive Director Simon Windell, Chief Financial Officer Nancy Blackmer, Administrative Assistant Matson Contardo, Administrative Coordinator Kai LaRue, Accountant