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Creating permanently attainable homeownership opportunities for families 

As part of our dedication to creating long-term affordable housing solutions, we are proud to introduce our Housing Land Trust initiative. The Sheridan County Housing Land Trust is a not-for-profit under Habitat for Humanity of the Eastern Bighorn's 501 (c) 3 nonprofit organization. 

 

 A Housing Land Trust (most commonly known as a Community Land Trust) acquires and holds land for the benefit of the community, ensuring that housing remains permanently affordable.

By establishing the HLT, Habitat for Humanity aims to preserve affordable homeownership opportunities for generations to come and stabilize housing costs to prevent displacement in our community. Additionally, this will foster a sense of ownership and community engagement among residents.

Watch this short video clip from Grounded Solutions to learn more about how a Land Trust operates. 

HLT Properties 

The first SCHLT project is "Weston Village", a 30 unit  single family development in the North Main corridor.  The "Weston Village" is part of a master plan in the City of Sheridan that will include the build out of several new single family and multi-family homes as well as a plan for a new elementary school. This project is close to Sheridan trails and pathways and provides easy access to the North Main corridor. 

These homes are 3 bedroom, 2 bath homes with a two car garage. As part of the SCHLT, these homes will be sold at prices that working residents can afford, with a  projected sales price around  $275,000 per home. The first three homes will be completed in summer of 2025. The current developer of this project is in partnership with StoneMill Construction. 

This project is made possible through a collaboration of our community partners, the City of Sheridan, County of Sheridan, Sheridan County Attainable Housing Council, and Habitat for Humanity of the Eastern Bighorns. 

HLT FAQ

What are the income limits for the "Weston Village" project? 

Our program requires that buyers be at or below 120% of the Area Median Income, based on household size. 

Are SCHLT homes only for first time homebuyers? 

No, but SCHLT. homeowners are restricted to the types of real estate they own prior to closing. 

What if I am self-employed? 

75% of your household income must be earned in Sheridan County's’ local zip codes.

I just retired. Am I eligible to buy a SCHLT home? 

Yes, so long as your income (social security payments, pension payouts, etc.) is sufficient to qualify for a mortgage and meets SCHLT's eligibility criteria.

Are co-signers allowed on a mortgage for a SCHLT home?

No. In order to assure that the home is affordable to the members of the household, no co-signers are allowed.

May SCHLT homeowners rent or sublet their homes?

Homeowners must live in their home as their primary residence, occupying their home for at least ten (10) months every year, and may not rent any part of their home for any period of time unless the homeowner receives a written exception to this policy from the Habitat for Humanity board of directors. Short-term rentals are not allowed.

Given the cap on appreciation (2% annually), what is the financial benefit of buying a SCHLT home?

Investing in real estate is a risk. The primary financial benefit of SCHLT homeownership is the potential ability to build equity through appreciation (2% simple interest) and through paying down your mortgage debt. SCHLT homes provide an entry point to homeownership that may not otherwise be available locally to the workforce.

 

 How much can a SCHLT homeowner sell their home for?

At resale, homeowners may sell their home for the original purchase price, keeping the equity earned by paying down the principal balance on their mortgage. Plus, they may receive simple interest of two percent (2%) for each year they own the home. And, if the homeowner made approved capital improvements to their home, they may be eligible for a credit for these modifications. 

 

This helps build equity while keeping the home affordable for future income-qualified homebuyers. 

To place your name on an inquiry list for homeownership, email SCHLT@sheridanhabitat.org​​​​​

Contact Us

Physical Address: 44 Fort Road, Sheridan, WY 82801

Mailing Address: P.O. 6196, Sheridan, WY 82801

Phone: (307) 672-3848 ext. 4

Email: SCHLT@sheridanhabitat.org

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Jamie Rivera 

Housing Land Trust Administrator, Sheridan County Housing Land Trust

Jamie is a licensed realtor (2017) in the State of Wyoming and has extensive experience in real estate, banking, and property management. She has served as the SCHLT Administrator since January 2024. 

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