How does the WHoA Project work?
We partner with you to separate the cost of the land from the cost of the structure. This arrangement keeps the cost of ownership low and allows for perpetual affordability.

What options are available for partnership?
Single Family Partnerships
Developer Partnerships

Where does 5-Fold Philanthropy operate and are there priority locations?
Currently in King County and Pierce County WashingtonCurrently in King County and Pierce County Washington

How does 5FOLD initiate a partnership?
To initiate a partnership, please complete the intake form (available soon)

Do we have the option to buy back the land once an agreement is made?
No, the goal is to maintain and/or expand the supply of affordable homes.

For single family residences, do you partner with current homeowners?
Yes.

What happens when we decide to sell the property?
There is no minimum occupancy period, and a CLT homeowner can decide to sell their home at any time. Only individuals who are income-qualified by 5Fold Philanthropy are eligible to buy CLT homes at resale. This ensures that the home’s long-term affordability protections continue to serve individuals and families who need them most.There is no minimum occupancy period, and a CLT homeowner can decide to sell their home at any time. Only individuals who are income-qualified by 5Fold Philanthropy are eligible to buy CLT homes at resale. This ensures that the home’s long-term affordability protections continue to serve individuals and families who need them most.

Who pays the annual property taxes when due?
Because homeowners enjoy the benefit of the land and the surrounding community services (schools, roads, etc.), they are responsible for paying property taxes on both the home and the land as assessed by the county or other local taxing districts. One benefit of the program is that properties are appraised based on their affordable resale value, not on surrounding market values–making the property tax bills on homes significantly lower than on conventional market-rate homes.

Who is responsible for maintaining the home and property?
The homeowner is responsible for maintenance and upkeep on the home and the land. As part of this responsibility, homeowners are required to see that all necessary maintenance, repairs, and replacements are performed on the home when needed. It is the homeowner’s responsibility to pay for the cost of maintenance and repairs, as well as the costs of all utilities related to the home, including water, gas, and electricity.

Is there a cost or fee for partnership?
Yes. The homeowner pays a fee of $113 each month to HCLT. This amount is made up of: the Ground Lease Fee and the Exterior Repair and Replacement Reserve Fee (also called the “Maintenance Fee”), and property taxes.

Can the home be transferred to my children or other family member(s)?
Yes. The homeowner can designate in their will a person(s) of their choosing to inherit the home and the Ground Lease. Anyone can inherit the home, but unless the inheritor is a child, spouse, or household member of the deceased, that new owner must be income-qualified in order to live in the home. If they are not income-qualified, then they must sell the home back to WHoA Trust for the Resale Formula Price. They are then entitled to keep the equity proceeds from the sale. This arrangement is designed to ensure that WHoA Trust homes are passed down to individuals and families who are in need of affordable housing. Children, spouses, and household members of the deceased are exempt from this requirement, however.

Are single family residences the only type of home partnership?
No, the WHoA Trust will partner on condo, townhomes and multi-family developments.

Is anyone eligible to participate in the partnership?
No, the WHoA Trust will enter into partnership to secure the property in trust. However, once the property is transferred, in order for the homeowner to remain in the property then they must meet the income threshold as prescribed in our program.

Is the program legal and legally binding?
Yes,

What is the status of my application for the program?
For updates on the status of your application, please log in to the portal or reach out to your program manager (coming soon).