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

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

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

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

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

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

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

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

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

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

5. CLTs – examples of models US – classic model Development trusts Urban regeneration areas Housing/almshouse trust MoD/Forestry land Conservation/Agriculture/Farm Land Trusts

US – classic model

Development trusts

Urban regeneration areas

Housing/almshouse trust

MoD/Forestry land

Conservation/Agriculture/Farm Land Trusts

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

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

Legal definition Policy environment Asset Transfer Unit CFS Facilitation Fund Precedents in Scotland and Wales Credit Crunch? 7. Opportunities…

Legal definition

Policy environment

Asset Transfer Unit

CFS Facilitation Fund

Precedents in Scotland and Wales

Credit Crunch?

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

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