2025-11-17T09:31:51-06:00 2024-12-31 205788602 Glaser and Company LLC 1859 Summerville Ave Suite 800 Charleston SC 29405 990 2024-01-01 273715681 Charleston Redevelopment Corporation CHAR 8439701802 PO Box 21299 Charleston SC 29413 Ms Cheryl F Ferraro CPA Treasurer 8439701802 2025-11-17 1 1 Erik Glaser CPA P00724565 8438490179 2024 2025-03-06 01:10:19Z Mr Jonathan Oakman PO Box 21299 Charleston SC 29413 3741765 0 X www.palmettoclt.org X 2012 SC To facilitate, develop, and advocate for neighborhood revitalization, affordable (Schedule O) housing construction, preservation and economic development in Charleston County. 9 9 1 9 0 0 2659981 1888084 850524 1014355 751 83430 30168 61208 3541424 3047077 0 122259 0 0 177031 220156 0 0 22984 1157906 1122175 1334937 1464590 2206487 1582487 19669371 21487391 6667413 6902946 13001958 14584445 X To facilitate, develop, and advocate for neighborhood revitalization, affordable housing construction, preservation and economic development in Charleston County. 0 0 1403784 122259 1095467 The CRC is a non-profit organization focused on the development and preservation of affordable housing in the Charleston area and helps secure local, state and national funding for long-term housing affordability. The CRC is organized to leverage funding to facilitate, develop, and advocate for neighborhood revitalization, housing construction, preservation and economic development throughout Charleston County. Working in concert with Development Partners and Local Units of Government.(Continued on Schedule O)The CRC operates three (3) Loan Programs, an affordable housing loan program for developers, Common Cause Rehabilitation Loan Program, and provides Consumer Down Payment Assistance Loans designed to remove financial barriers that hinder the development of affordable housing.The CRC operates the Palmetto Community Land Trust, which provides long term affordability to approximately Two Hundred (200) housing units being planned, constructed, or preserved. The Land Trust places land in long-term trust protection to ensure affordability and accessibility for future generations. 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.- The CRC's approach to affordable homeownership is a community focused effort. Our dedication to the community is highlighted by our board, which maintains 1/3 representation by low to moderate income persons or residents of low-income neighborhoods.- Community control of land is maintained 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 PCLT properties is capped by a formula to ensure affordability remains with the property owner.- Allows local control of the community's housing future to build a long-term relationship with homeowners.- Large scale development is possible through joint venture development and public-private partnerships. 1403784 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 8 0 1 1 1 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X Cheryl Ferraro 8439701802 PO Box 21299 Charleston SC 29413 Mr Jonathan Oakman President 5.00 X X 0 0 0 Mrs Geona Shaw-Johnson Vice President 5.00 X X 0 0 0 Ms Cheryl F Ferraro CPA Treasurer 1.00 X X 0 0 0 Ms Diane Hamilton Secretary 1.00 X X 0 0 0 Ms Carol Jackson Board Member 1.00 X 0 0 0 Mr Theron Snype Board Member 1.00 X 0 0 0 Ms April J Wood Board Member 1.00 X 0 0 0 Mr Casdell Singleton Board Member 1.00 X 0 0 0 Ms Aris Ferguson Board Member 1.00 X 0 0 0 F A Johnson II Esq Executive Director 40.00 X 95935 0 14483 95935 0 14483 0 0 0 0 0 1768417 119667 1888084 Rental Income 531110 878023 878023 Administration Fees 522310 136332 136332 1014355 2318 2318 775800 694688 81112 81112 81112 Insurance Proceeds 531110 61208 61208 61208 3047077 1095467 0 63526 122259 122259 87979 65984 4399 17596 94268 94268 18386 13790 919 3677 19523 17528 399 1596 45685 45685 1200 1200 5588 5588 36990 36990 7429 7429 36333 35421 797 115 8243 5092 3151 385415 385415 3417 3417 240334 240334 183867 183867 142413 141599 814 Bad Debt - Residential 20555 20555 Dues and subscriptions 4706 4706 1464590 1403784 37822 22984 1304433 813093 177033 193090 9856836 11997440 14212 17364 8016000 752888 7446979 7263112 26072 3229 843806 1200063 19669371 21487391 169642 53519 271055 412945 6192579 6397193 34137 39289 6667413 6902946 X 12418809 14014445 583149 570000 13001958 14584445 19669371 21487391 1582487 0 X 0 1 X 1 0 X 1155902 5140105 4588020 2659981 1888084 15432092 472274 795783 1490904 880692 1084855 4724508 1628176 5935888 6078924 3540673 2972939 20156600 0 0 0 20156600 267 767 209 751 2318 4312 267 767 209 751 2318 4312 1628443 5936655 6079133 3541424 2975257 20160912 0.99980 0.99990 0.00020 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2500000 2500000 5516000 752888 4763112 7263112 Home Construction In Progress 614162 Land Held for Development 457500 Restricted deposits 128401 1200063 Tenant Secuity Deposit 39289 39289 1 Loan forgiveness - Common Cause 10 36963 Home purchase subsidy - City of Charleston 1 85296 Part I, Line 2: The Common Cause Loan Fund provides financial assistance to income eligible borrowers to address exterior repairs that focus on preserving homes that are fifty (50) years or older. The overall goal of this program is to preserve the character and heritage of the communities that contribute to the cultural fabric of Charleston by providing loans to income eligible owners for repairs that will empower long term families to keep ownership of their homes and preserve naturally occurring affordable housing. Form 990, Part VI, Section B, line 11b The 990 was distributed, discussed, and voted on by the board prior to filing. Form 990, Part VI, Section B, line 12c A Director with a conflict of interest must disclose the nature of theconflict and provide a written statement to the President of the Board prior to any action of the Board on the issue for which the Director has a conflict of interest. Such statement will be read and will be incorporated as part of the official minutes for the meeting. Further, the involved director must recuse himself/herself from any discussion, deliberation, andvoting related to the issue which presents a conflict of interest. Form 990, Part VI, Section B, line 15 The Finance Committee is charged with annual budget review including CEO and officer compensation. Form 990, Part VI, Section C, line 19 The organization makes these documents available upon public request at its corporate offices. PCTL Sea Island Apartments LLC PO Box 21299 Charleston SC 29413 843616653 Housing SC 55166 2796645 CRC Palmetto Community Land Trust North Central LLC PO Box 21299 Charleston SC 29413 873424286 Housing SC -208782 4702643 CRC 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PCTL Sea Island Apartments LLC B 750 Fair Market Value Palmetto Community Land Trust North Central B 96042 Fair Market Value