A financial agreement that could be used to fund affordable housing development. The house, acting as the borrower, issues a perpetual bond (via a public trust) to fund the land purchase. On top of this, the home is then free to trade aggregated obligations to pay for the servicing of the bond.
The free house doesn't have any obligation to pay back the principal but continues to pay the interest payment through services agreements to the residents and set by the civic trust.
The perpetual bond has no maturity date, making it more like equity, rather than debt. It means that the relationship between the house and investors is perpetual – nobody is ever ‘done’ with caring for the house and vice versa.