In 2005, the City of Irvine convened a Housing Task Force to help develop a strategy for the provision of affordable housing. It was particularly important to identify a strategy to preserve the affordability of these units over the long term. To address both production and preservation, the task force recommended the creation of the Irvine Community Land Trust (ICLT). The community land trust model will help ensure that any new units created with public subsidy or as a result of the City’s inclusionary housing ordinance will remain permanently affordable for future generations. In March 2006, the Irvine City Council unanimously approved this housing strategy and initiated the establishment of the ICLT.
The mission statement of the ICLT is as follows: The Irvine Community Land Trust (ICLT) was created by the City of Irvine to provide secure, high-quality affordable housing. The Irvine Community Land Trust will achieve its mission through the operation of a non-profit community land trust, securing and retaining title to land on which permanently affordable rental, ownership and special needs housing will be constructed and maintained for the benefit of income-eligible families.
The vision of the ICLT is that by the year 2025, the ICLT will have created approximately 5,000 units of permanently affordable housing in the City of Irvine, contributing more than 50 percent of the City’s 2025 goal of 9,700 affordable units. In addition, the ICLT will conduct a monitoring program and provide stewardship for these units, insuring high-quality construction, design, sustainability, maintenance and permanent affordability. ICLT will achieve self sufficiency by ensuring that fees and other earned income are sufficient to support the organization’s ongoing operating costs.