Presentation on theme: "Steve Watson"— Presentation transcript:
Established in 2010 CLT Network award winner in 2012 Now supporting 12 projects To build 123 affordable homes for local people – mostly for rent All on community-owned land With up to £5m of grant And generating incomes for communities.
Options for Delivering Affordable Homes through a CLT 1.Stand-Alone CLT 2.CLT/Housing Association Partnership
Dorset - Buckland Newton CLT Devon – High Bickington CLT Stand-alone CLT projects – inspirational and challenging
Options Stand-alone CLT Partnership CLT/HA Community ownership Yes Financial risk Community Land Trust Housing Association
Funding affordable homes for rent in a riskier world...
2009: The first Partnerships Dorset 2009 – Worth Matravers CLT and Synergy Housing Dorset 2010 – Symene CLT and Hastoe Housing
Somerset – Norton CLT and Yarlington Housing Blackdown Hills – Upper Culm CLT and Hastoe Housing
Dartmoor – Christow CLT and Teign Housing
Devon – Corry Valley CLT and Yarlington Housing
Somerset – Queen Camel CLT and Hastoe Housing
Dorset – Toller Porcorum CLT and Aster Housing
Chagford CLT and CG Fry Ltd 35 affordable homes 50 homes for open market sale Proposal for Chagford, Dartmoor
Stroud Cashes Green CLT and Green Square Housing 39 affordable homes 39 homes for open market sale
East London East London CLT and Galliford Try 80 affordable homes 140 homes for open market sale
How Does the Partnership Work?
COMMUNITY LAND TRUST HOUSING ASSOCIATION LAND 2. HA acquires long term lease 3. HA finances, builds and manages homes 1. CLT acquires freehold 4. HA pays ground rent to CLT 6. CLT can break lease with HA 5. CLT is a party to key planning agreement
Standard Documentation Project heads of terms Land heads of terms Option agreement Lease Section 106 agreement Allocations plan
Funding Council or CLT Network revenue grant HCA revenue grant HCA capital grant Council capital grant HA mortgage finance
Benefits – CLT Very low risk High probability of homes being built Freehold ownership in perpetuity An income from ground rents The option to buy the HA out of its lease Party to planning agreement Influence over the project Reasonable time commitment The creation of a CLT for other projects
Future options? COMMUNITY LAND TRUST HOUSING ASSOCIATION PARTNERSHIP VILLAGE SHOPVILLAGE PUB COMMUNITY FARM RENEWABLES ENERGY MORE HOUSING
Benefits – Housing Association Advocacy of the project by the CLT High probability of homes being built Avoids expensive mistakes Enthusiastic support from district councils Access to additional grant The scheme more likely to be accepted by the community
Trust and Association : Guide to delivery options