Limited Equity Cooperatives (LECs) are a form of affordable homeownership where residents collectively own their housing and agree to limit resale prices, thereby preserving long-term affordability for future generations. These cooperatives are particularly vital in Washington, D.C., where rapidly rising housing costs and historical housing policies have disproportionately displaced Black, Indigenous, and People of Color (BIPOC) communities. The District has made significant efforts to support LECs through programs like the Tenant Opportunity to Purchase Act (TOPA), which empowers tenants to purchase rental properties, and financial resources such as the Housing Production Trust Fund and Housing Preservation Fund for acquisition, rehabilitation, and preservation.
The FUSE Executive Fellow will conduct a comprehensive landscape analysis of current LEC properties and policies while engaging with key stakeholders including LEC residents, board members, nonprofit housing organizations, technical advisors, and financing partners. This research will inform the development of a centralized database documenting the conditions, governance structures, and financial health of existing LECs, as well as standardized governance templates and training materials to support cooperative boards. The Fellow will also propose innovative funding strategies to ensure long-term sustainability, leveraging public resources and exploring private-sector partnerships. Through pilot projects with select LECs to test new tools and processes, the initiative will refine approaches based on real-world implementation, ultimately creating a comprehensive operational plan for strengthening and scaling LECs across Washington, D.C.