Become a member of the Upper Coly Valley Community Land Trust
To become a member of the Upper Coly Valley Community Land Trust please download the application form here and send it with £1 to the Community Land Trust Secretary:
The Upper Coly Valley Community Land Trust
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. By forming a partnership with a Housing Association, the CLT can lead the housing project and generate a long-term income whilst being protected from the risks involved. The community then has a financially viable Trust able to take on future projects for the benefit of that community. 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 (with an option to take on full ownership of the properties from the Housing Association should the CLT ever wish to do so). The CLT will enter into a long term lease with the Housing Association and have an influence over important things like layout, design and occupancy.
Affordable Homes for Local People. Those with a strong local connection – through living or working in the parish, or having family there – have priority for the housing. This is enshrined in a legally binding agreement between the Council, the Housing Association and the Community Land Trust.
Access to grant funding. The creation of the CLT enables government grants to be obtained for community led housing schemes.
Financial viability. The CLT obtains an income from ground rents sufficient to cover the Trust’s running costs and 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 the current housing needs survey to establish number and mix. However, the scope of the Trust provides a vehicle for the Upper Coly Valley CLT Ltd to own, develop and protect other property and land.
Democratic. The Trust is a democratic organisation – with membership open to anyone supporting its objectives.
The Upper Coly Valley Community land Trust
The first project of the Upper Coly Valley Community Land Trust Limited is to provide affordable housing for people with a strong local connection to the village is proposed. Future projects could involve taking on other assets important to the community.
Upper Coly Valley Community Land Trust Limited is a Community Land Trust. There is a legal definition of a CLT. It must be-
- Owned by the Community
- Run by the Community
- For the benefit of that geographical Community
- Not for personal profit
(Housing and Regeneration Act 2008 Part 2, Chapter 1, Clause 79.)
To ensure the CLT achieves this the Upper Coly Valley Community Land Trust Limited has been registered as a Community Benefit Society and it needs members to join and help achieve great things. Each member will have one, equal vote at general meetings and be able to put themselves forward as a board member and elect the board.
A Community Benefit Society is joined by members owning shares in it. Unlike a share in a company (such as British Gas) you will not ‘own’ part of the CLT and will not receive any payment from profits. The shares cannot rise in value but may lose value.
As a Community Benefit Society, as well as guaranteeing democracy and ensuring its assets are protected, the Upper Coly Valley Community Land Trust Limited will be able to raise large amounts of money through issuing shares. Currently, we just want membership.
We are asking for those who want to support our initial goal of providing affordable housing for local people to invest £1 in shares and join us.
Please download, print and return the application form with your payment to the address below:
Registered Office: Crossacres, Hutgate Road, Honiton, Devon, EX14 9UY
Upper Coly Valley Community Land Trust Limited is a Community Benefit Society Registration No. 7557