A New Way of Doing Things
Community Land Trusts (CLTs) are being set up across the country to help provide affordable homes and services for local people. The CLT may seek to acquire land or buildings and to develop them independently. Alternatively it may form partnership(s) with one or more Housing Association(s), whereby the CLT can lead the housing project and generate a long-term income whilst being protected from the risks involved. The main features about this new way of doing things are:
Land ownership. The CLT can secure the housing site in perpetuity for the community. Any housing developed will remain affordable to local people in demonstrable housing need.
Affordable Homes for Local People. Those with a strong local connection – through living or working in the Frome area, or having family here – have priority for the housing. This will be enshrined in legally binding agreements.
Access to grant funding. The creation of the CLT enables government grants to be obtained for community led housing schemes.
Financial viability. The CLT will obtain an ongoing income from rents sufficient to pay back any loans, cover the Trust’s running costs and hopefully provide a small income for other projects. The Trust is therefore financially sustainable.
Potential for other projects. The priority is land for affordable housing – using information about the current housing needs to establish the appropriate number and mix. However, the scope of the Trust provides a vehicle for FACLT to own, develop and protect other property and land.
Democratic. The Trust is a democratic organisation – with membership open to anyone supporting its objectives.