Grants are available to the CLT to fund a planning application (including the cost of employing an architects, surveyor, engineer etc.) and the Trust’s legal costs. Capital costs, including the purchase of the land and the development of the homes, are met by the CLT’s housing association partner. The land is paid for when a lease agreement is entered into by the landowner and housing association; the freehold ownership then passes to the CLT for £1.00. The housing association will bear the risks of development (such as contractor insolvency) and long-term management of the site.