Co-operative ownership for affordable, permanent sites for Gypsies and Travellers Paul Sander-Jackson November 2012
What is this addressing • • Long term legal provision of appropriate sites Control of their site by residents Low cost provision involving self build Efficient use of scarce financial resources
The components • • • A dedicated Community Land Trust Groups registered as co-operatives A revolving loan fund Lease and site occupancy agreements Loan agreements
• What is a CLT? • The full name is ‘Community Land Trust’ • Mainly used for affordable housing • There is a legal definition. This says that the CLT mustØ Ø Be owned by its community Controlled by its community Not have been set up to profit members Is permanent
Umbrella Community Land Trust Owns freehold or head lease on land Site Co-operative A Site Co-operative B Holds long lease from CLT Rents pitches to its members
How the money moves each month Lender £ Co-op CLT
The CLT will eventually hold more than one site ‘in trust’. The CLT will be a source of stability for Co-ops that will have changing membership. The people running the CLT will be representatives of the Co-ops and others (such as Local Authority representatives) who can help with the larger aims of the Co-ops. CLT Co-op site
Practical reasons to be a Co-op • It creates a legal body which can • Open a bank account • Own assets beyond the timescale of individual member’s requirements • Employ/hire people • Buy insurance • Enables others to do business with the Coop, not one person
Where we are at in pilot project • Somerset G and T Community Land Trust up and running • First group registered as a co-op • £ 100 k available from Mendip DC for loan fund • Details of lease and loan agreements being finalised • First land purchase hopefully soon
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