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Iti <br />As anon-profit organization, the Land Trust may not have ready funds available to act <br />quickly in foreclosure circumstances. A government sponsored revolving loan fund could <br />provide an important security net, insuring our ability to act quickly and repurchase homes prior <br />to a foreclosure auction. <br />Recommendations <br />1. The Land Trust recommends that the local governments of the HOME consortium <br />formally endorse the Land Trust's use of the Fannie Mae Uniform Community Land <br />Trust Ground Lease Rider, acknowledging that this rider will change the terms of our <br />ground lease. <br />2. The Land Trust recommends that one or more of the local governments establish a <br />revolving loan fund that would enable the Land Trust to recapture homes and avoid <br />foreclosure. The loan fund should accommodate the purchase of more than one <br />property simultaneously. <br />