In response to a comprehensive regional housing study conducted by the City of Fargo and Fargo Housing Authority, Fargo-Moorhead Area Foundation began studying the need for more affordable workforce housing. According to the study, between 2000 and 2014, the labor force increased by 16.1% and that rate is still increasing because of the area’s strong employment growth. Rapid growth in the population combined with a strong economic base fueled a sustained surge in housing values and created a shortage of affordably priced owner- occupied homes and rental housing. The 2019 median cost of an owner-occupied home in Fargo was $223,500, in West Fargo was $229,500, and in Moorhead was $194,800 – all expected to increase.

Recognizing the need for affordable housing, in January 2019 the Fargo Moorhead Area Foundation contracted with Burlington Associates to coordinate the feasibility assessment and business planning process and, if a decision was made to proceed, to assist with implementing and building the capacity of Cass Clay CLT and designing its CLT homeownership program. The FM Area Foundation created Cass Clay CLT as part of a long-term solution to ensure lower-priced homes would be available in the community. The land trust model of shared equity provides a unique opportunity to create upward mobility while converting individuals from renters to owners resulting in a clear and measurable social benefit.