Lead Partner: Wessex Re-investment Trust
Description
There is a large body of evidence about the lack of affordable housing in rural areas. The shortage distorts local economies and undermines social well-being, particularly among younger people. This situation has been caused by a combination of issues including dramatic increases in house prices, due partly to in-migrants, second homeowners and holiday lets, and a shortage of social and affordable intermediate market housing. The ‘Right to Buy’ scheme has also exacerbated the problem.
Government is committed to finding solutions through the provision of Social Housing Grant administered by the Housing Corporation. It also wishes to see residents identifying their own priorities for local action and then working together to produce solutions. These two approaches supplement and complement each other; while there is insufficient public money to solve the problem, the involvement of local residents can create solutions, both in terms of additional physical assets and in developing greater social capacity. Schemes also capitalise on the energy and added value that can flow from voluntary effort. Community Land Trusts (CLTs) are one emerging solution. They offer a vehicle for residents to create and control community assets, with the aim of providing social, cultural, environmental and economic benefits. They connect up principles of civil renewal, sustainability and local investment to produce lasting solutions to local needs. They also help sustain community activity in the long term by creating regular and growing income streams that can finance further projects in future years.
This action research programme led by Wessex Re-Investment Trust in association with Community Finance Solutions seeks to develop the technical support and instruments needed to secure in perpetuity community owned land. One of the biggest obstacles for CLTs to overcome is finance, particularly regarding access to technical support and risk capital. Now, thanks to a new fund, set up with the help of Community Finance Solutions and Venturesome and funded by the Esmee Fairbairn Foundation and the Tudor Trust, projects can apply for financial support.The Fund is split into three streams, reflecting the different stages in establishing and developing a Community Land Trust. Projects can apply to one or more funds depending on their stage of development click here to find out more.