In California, we have created the Lennar Charitable Housing Foundation, a financial vehicle which gives homebuilders the opportunity to expand and leverage their relationships with homebuyers to help meet our country's significant problem with homelessness.
- With the Lennar Charitable Housing Foundation, we have created an ongoing method for those fortunate enough to be able to buy a home, to have a simple and direct way to assist those who are homeless.
- Upon the actual closing transaction of a home sold in a Lennar Charitable Housing Foundation Community, a fee totaling 1/20th of one percent of the gross sales price of the home is collected from the buyer on that sale, and then from each new buyer on every subsequent resale.
- Thus each time the home is sold, an ongoing, in perpetuity, fee is generated.
- These fees are limited for use to support organizations that provide assistance for the transitionally homeless or those living in substandard housing.
- By having the fee generated each time a home is resold, Lennar has created an ongoing funding source for assistance to homeless people in the local Community.
Lennar is pleased to have been a founder in this unique program of giving back to our Community, and looks forward to its expansion in other areas of Lennar Community development.
