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Charleston Redevelopment Corporation

Charleston Redevelopment Corporation

Charleston, SC 29401
Tax ID27-3715681

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About this organization

Revenue

$3,454,167

Expenses

$43,601

Website

palmettoclt.org

Mission

TO FACILITATE, DEVELOP, AND ADVOCATE FOR NEIGHBORHOOD REVITALIZATION, AFFORDABLE HOUSING CONSTRUCTION, PRESERVATION AND ECONOMIC DEVELOPMENT IN CHARLESTON COUNTY

About

THE PALMETTO COMMUNITY LAND TRUST (PCLT) IS A PROGRAM OF THE CHARLESTON REDEVELOPMENT CORPORATION (CRC), A PRIVATE 501C3 NONPROFIT CORPORATION GOVERNED BY AN ALL-VOLUNTEER BOARD OF DIRECTORS. - OUR APPROACH TO AFFORDABLE HOMEOWNERSHIP IS A COMMUNITY FOCUSED EFFORT. OUR DEDICATION TO THE COMMUNITY IS HIGHLIGHTED BY OUR BOARD, WHICH IS 1/3 PARTICIPANTS IN THE PCLT PROGRAM. - COMMUNITY CONTROL OF LAND WHERE THE TRUST RETAINS OWNERSHIP OF THE LAND AND CONVEYS OWNERSHIP OF THE IMPROVEMENTS TO AN INDIVIDUAL VIA A 99-YEAR LONG-TERM RENEWABLE GROUND LEASE THAT CAN BE INHERITED BY FUTURE GENERATIONS. - SINGLE FAMILY DETACHED AND MULTI-FAMILY HOUSING IS REMOVED FROM THE SPECULATIVE MARKET TO RESTRICT PRICE APPRECIATION AND TO MAINTAIN LONG-TERM AFFORDABILITY, BOTH IN OWNERSHIP AND RENTAL HOUSING. - PRESERVES PUBLIC AND PRIVATE SUBSIDIES BY MANAGING PRICE APPRECIATION, RETAINING COMMUNITY VALUE, AND RECYCLING THE SUBSIDY, LAND, AND AFFORDABLE UNITS FOR FUTURE GENERATIONS. THE RESALE PRICE OF CLT PROPERTIES IS CAPPED BY A FORMULA TO ENSURE AFFORDABILITY REMAINS WITH THE PROPERTY OWNER. - ALLOWS LOCAL CONTROL OF THE COMMUNITYS HOUSING FUTURE TO BUILD A LONG- TERM RELATIONSHIP WITH HOMEOWNERS. - LARGE SCALE DEVELOPMENT IS POSSIBLE THROUGH JOINT VENTURE DEVELOPMENT AND PUBLIC-PRIVATE PARTNERSHIPS.

Interesting data from their 2020 990 filing

The non-profit's mission is outlined in the filing as being “To facilitate, develop, and advocate for neighborhood revitalization, affordable housing construction, preservation and economic development in charleston county”.

When outlining its responsibilities, they were referred to as: “To facilitate, develop, and advocate for neighborhood revitalization, affordable housing construction, preservation and economic development in charleston county”.

  • The state in which the non-profit operates has been officially reported as SC.
  • The filing reveals the non-profit's address in 2020 to be 75 CALHOUN STREET SUITE 3200, CHARLESTON, SC, 29401.
  • As per the non-profit's form for 2020, they have 0 employees on their payroll.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Does not have foreign activities.
  • Is not a donor advised fund.
  • Is not a private foundation.
  • Expenses are less than $100,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is $3,410,566.
  • The CEO compensation scheme within the organization is not based on a review and endorsement by an impartial party.
  • The organization has 12 independent voting members.
  • The organization was formed in 2012.
  • The organization is required to file Schedule B.
  • The organization is required to file Schedule O.
  • The organization pays $1,215 in salary, compensation, and benefits to its employees.
  • The organization pays $0 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization has minutes of its meetings.

Additional Non-Profits in the area

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