Sacramento, CA–Governor Jerry Brown today signed a bill by Assemblymember David Chiu (D-San Francisco) that will lead to the creation of more affordable housing in California. Assembly Bill 2818 promotes an innovative kind of affordable homeownership called Community Land Trusts (CLTs). CLTs are nonprofit entities that purchase land, divide the underlying land from the homes on the property, and sell the home to a qualifying resident. Residents must be low- or moderate-income to purchase a home. The home is subject to affordability restrictions and a resale formula that allow a homeowner to capture some equity, but not all of the equity, keeping the home affordable.