COMMUNITY LAND TRUST FUND

THE COMMUNITY LAND TRUST FUND – Finance up to £350,000 and grants of up to £4,000 to assist the development of community-led affordable housing projects in England and Wales which will help to build sustainable communities (applications may be made at any time)

Community Land Trusts (CLTs) seek to address the difficulty in finding suitable and affordable homes in local communities by creating affordable housing and community resources through the cooperative ownership of land by the local community. 

Land is acquired by community groups (usually below its market rate) through public investment, planning gain or philanthropic or charitable gifts and is held in perpetuity by the local community. The value of the land (plus subsidies and other equity benefits) is permanently locked in, on behalf of the local community and future occupiers, by the CLT.

The following support is available:

1. Start Up Fund:

o    Stage 1 - one day’s support with a specialist CLT Technical Advisor to scope out the project;
o    Stage 2 - after completion of the Stage 1 scoping day, suitable projects will be eligible for a further two days’ support with a specialist advisor, to build on the plans developed during the first scoping day;
o    Stage 3 - grants of up to £4,000 to help pay for the costs of formally setting up a CLT and developing the initial ideas into an investment-ready business plan.

2. Social Investment Fund:

o    Pre-development finance - up to £50,000 or circa £2,000 per unit is available. The finance is repayable only if planning is received;
o    Development finance - up to £350,000. PLEASE NOTE: the finance is repayable with interest.

Applications are invited from CLTs in England and Wales that are at least 50% housing and that are defined as a corporate body which:

1. Is established for the express purpose of furthering the social, economic and environmental interests of a local community by acquiring and managing land and other assets in order:

(a)    To provide a benefit to the local community; and
(b)    To ensure that the assets are not sold or developed except in a manner which the trust's members think benefits the local community.

2. Is established under arrangements which are expressly designed to ensure that:

(a)    Any profits from its activities will be used to benefit the local community (without by being paid directly to members);
(b)    Individuals that live or work in the specified area have the opportunity to become members of the trust (whether or not others can also become members); and
(c)    The members of a Trust control it.

The application deadlines are:

o Start Up Fund Stage 1 and Stage 2 - applications may be submitted at any time.
o Start Up Fund Stage 3 - the Fund committee meets regularly to consider new applications.
o Social Investment Fund - Expressions of Interest are currently being accepted.

Further information, together with an application form for the Start-Up Fund, is available to download from the Trust's website.

Contact details for the scheme are:

Community Land Trust 
National CLT Network 
7-14 Great Dover Street 
London 
SE1 4YR 
Tel: 020 3096 7790 
Email: info@communitylandtrusts.org.uk

(Source: GRIN)