Community Finance Solutions

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Community Finance Solutions

Community Finance Solutions

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  • Plan to show DVD then go through a few slides CFS and NDP -> case studies -> practical toolkits -> direct assistance -> DVD – message from horses mouth. Talks to communities actually involved on the ground. Learning from pioneers.

Transcript

  • 1. Community Finance Solutions
    • Jennifer Aird MSc BSC
    • Research Assistant
    • Community Finance Solutions
    • CFS – a research and development unit at Salford University
    • National CLT demonstration programme – 14 urban and rural pilots
    • Website www.communitylandtrust.org.uk
  • 2. 1. CLT - Origins
    • Ruskin and the garden city movement
    • 1870s – 1920s
    • Indian land gift movement 1950s
    • Bob Swann and US model 1960s to now
    • Land reform in Scotland – first buy-outs 1990s Land Fund set up 2001 legislation passed 2003
    • 1980s – Stonesfield CLT set up
  • 3. 2. CLT Legal Definition (July 2008)
    • A corporate body which aims to further the social, economic and environmental interests of a local community by acquiring and managing land and other assets.
    • In addition:
    • It must not sell or develop the assets except to benefit the community.
    • It is controlled by its members, and membership must be open to people who live and work in the community.
    • All profits made are reinvested in the community
  • 4.  
  • 5. 3. CLTs – key characteristics
    • Keep housing affordable in perpetuity
    • Democratically run and community-led
    • Aim to be self-financing
    • Aim to exist for a very long time
    • Exist to build sustainable communities, ie can also look at business space, parks, allotments, farms, etc
  • 6. 4. CLT – keeping housing affordable
    • Land is held in perpetuity
    • House prices kept affordable by a resale formula or other conditions in lease
    • Aim is to benefit those with a local connection who can’t afford a home
    • Promotes benefits of homeownership but profit to individuals is capped
    • Self-financing
  • 7. 5. CLTs – examples of models
    • US – classic model
    • Development trusts
    • Urban regeneration areas
    • Housing/almshouse trust
    • MoD/Forestry land
    • Conservation/Agriculture/Farm Land Trusts
  • 8.  
  • 9.
    • Formed in 2006 as an outcome of the Market & Coastal Towns Initiative
    • Company ltd by guarantee registered as a charity
    • Provides 9 shared equity homes (Sept 08)
    • Funders – Council (2 nd home C Tax), Charity Bank, Venturesome
    • Future plans – achieving a further 50 shared equity/rental homes in next 2/3 years
    6. Holsworthy Community Property Trust – key facts
  • 10.
    • Legal definition
    • Policy environment
    • Asset Transfer Unit
    • CFS Facilitation Fund
    • Precedents in Scotland and Wales
    • Credit Crunch?
    7. Opportunities…
  • 11.
    • Work of CFS
    • Facilitation Fund…?
    • Regional support – Land for People, Foundation East, Cornwall CLT, Cumbria, Northumberland
    • Housing Corporation
    • Templates, case studies and tools at www.communitylandtrust.org.uk
    8. Support available