The cap on the resale price strikes the Goodspeeds as a fair arrangement.
"The restrictions are fine - we're not going anywhere. And if we did sell the house, I'd want someone else like us to have it," says Emily. "Besides, I don't think we'd ever be able to afford a home without the Trust. They made it affordable for us."
ACHT was founded with assistance from state Sen. Betty Little, who secured $1 million dollars from the New York legislature in 2007. The goal is to build a growing collection of homes that will anchor local families in the Adirondacks. Proceeds from future home sales will help to fund more land trust purchases.
So far, three houses have been placed in the Trust: in North River, Saranac Lake and Jay.
"We're eager to increase these numbers so we can secure annual funding to invest in Adirondack communities," said ACHT Executive Director Alan Hipps. He pointed out that the homes remain on the local property tax rolls.
In a tough real estate and labor market, ACHT funds can also help families with down payments and closing costs. They can help qualified home buyers pay for needed repairs to new homes. And buying into the Housing Trust may be a way for a current homeowner to avoid foreclosure.
Local families earning up to 120 percent of the area's medium income are encouraged to contact ACHT. Visit the website at http://www.adkhousing.org or call Emily Kilburn at 873-6888.