CLTs get land in a number of ways. They can:
Acquire public or privately owned land at below development market value;
Purchase a rural exception site at a little more than agricultural value;
Acquire a site using grant funding, community share issues;
Already own a site that is permitted for development or work with other organisations (e.g. local charities, trusts) that have land.
In practice, we find that access to land is rarely the problem that it might be perceived to be at the outset. Once landowners understand the principles of community asset ownership that are embodied in a CLT, they are often keen to work with a CLT to support what they see as a very good cause.
CLTs are financed from an eclectic mix of funding streams and the final balance of funding will depend on local circumstances and what the objectives of the trust are. From the outset CLT East can help you to identify the likely sources of funding but they are likely to come from any number of the following sources:
Pre-development funding may be available from The National CLT Fund, innovative local authorities such as East Cambridgeshire DC, Parish Councils or donations from local supporters or pioneer investors within your local community;
The CLT Fund and/or local authorities may also be able to help to provide loan finance to develop the buildings. Alternatives might include ethical lenders such as Triodos Bank, Charity Bank or the local community via share issues or other fundraising initiatives. The Homes & Communities Agency has grants that are available to CLTs that are able to meet their funding criteria.
That’s fine, every local group differs in what it is seeking to achieve. Some of the most successful CLTs have benefited from partnering with housing associations to develop and/or manage their homes. In our region, Swaffham Prior CLT and Lavenham CLT are seeking to do just that. There are a number of different arrangements that can be used and we can help to advise on who might be a good local partner and how best to structure the relationship.
Take a look at further website pages on our site or visit the CLT Network website. It's a great source of detailed information about CLTs.
Or if you are in the East of England (Beds, Cambs, Essex, Herts, Norfolk and Suffolk,) and want to talk to us about what local support might be available then contact us to see how we can help.