Crane Valley Land Trust Ltd COMMUNITY BENEFIT SOCIETY Our - - PowerPoint PPT Presentation

Crane Valley Land Trust Ltd

COMMUNITY BENEFIT SOCIETY Our Landscape, Our Housing, Our Economy

What

A not-for-proft community organisaton, run by volunteers to beneft the social, environmental and economic interests of the Parish:

• legally incorporated as Crane Valley Land Trust Ltd
• a community beneft society empowered to raise funds, borrow up

to £250 million, buy and sell assets, and form partnerships

• governance modelled on the NCLTN standard rules with an interim

board of Directors

How

By acquiring land and other assets to develop permanently afordable housing and other amenites for lastng community beneft

Why

Help meet Cranbrook & Sissinghurst housing targets and deliver NDP afordable homes component

• Provide alternatve to low quality, mass housing, dormitory estates
• Deliver local housing solutons that:
• integrate community
• grow economy
• enhance environment, revitalise land use
• High quality design and constructon
• Sustainable, energy efcient/Passivhaus
• Sensitve to town & landscape setng
• Brownfeld regeneraton
• Dispersed farmstead model in Rural Development Zone
• incorporatng core business interest - employment, tourism, productvity

Who – our Board

Pip Gill Teacher, fundraiser, event organiser Richard Gill Architect, project manager Tim Kemp Architectural consultant, parish councillor Mark Wade Sustainable development consultant, project manager Tally Wade PR consultant, journalist, publisher, social media Mat Warne Accountant and technology John Young Lawyer Transparent and accountable governance based on NCLTN model rules. All volunteers with a shared passion and vision for safeguarding & promotng:

Our landscape, Our Housing, Our economy

Funding

Start-up fund available from the Natonal Community Land Trust Network (NCLTN) for technical assistance and grants to get things going Stage 1 & 2 funding:

• £500 + £1000 for three-days of consultancy to understand

concept, explore optons, decide whether to go ahead Stage 3:

• £4k for legal advice, incorporaton costs, to secure land,

develop a business plan, or fund community engagement

Funding

Social Investment Funds - are available via the NCLTN, once

incorporated, to get proposals through planning and homes built

‘Getng to planning stage’ funding

• £50k or approx’ £2k per house for costs to prepare plans,

commission architects and submit for full planning

• permission. Only repayable on successful planning approval

‘Getng your homes built stage’ funding

• £350k to develop site to completon

DCLG via TWBC

• £30k for securing opton agreements on land

Funding

Other funding sources

A wide range of charitable and ethical lenders fund CLTs, including:

• Charity Bank - up to 70% of total project cost
• Ecology Building Society - up to 70% of total project cost
• Triodos Bank - up to 70% of total project cost
• Unity Trust Bank - up to 70% of total project cost
• Big Issue Invest - up to £3m
• CAF Venturesome - up to £50k

Lenders ofer various repayment holidays for purchasing land (with planning permission) and building schemes to completon

Funding

Other funding sources

A wide range of other fnancing optons are open to CLTs, including:

• Homes England ‘Home Building Fund’ - 70% of project total up

to £250m

• ‘Power to Change’, Community Business Fund - up to £300k
• High street bank / building society mortgages
• Share capital – using withdrawable shares
• Private investment
• Joint venture partnerships
• Heritage lotery (not for housing) up to £3m
• Donatons, crowd sourcing

NDP CVLT synergies

A large number of propertes across Cranbrook and Sissinghurst have been allocated to the planning department of TWBC We are taking an actve part in these sites and a wide range of other possible propertes as being suitable for development under the terms of our trust. We submited our CVLT vision for the NDP and work closely in its development.

NDP/CVLT Vision Meetng housing targets by:

• 1. Dispersed Farmstead development within Rural

Development Zone

• 2. Brownfeld urban and rural regeneraton
• 3. Model village

Mixed portolio of ‘tenure-blind’ afordable and full market value homes, small business units and land-related enterprises

Business model

Engage landowners of shared vision

• Secure opton agreement – using DCLG £30k

Set-up JV partnership agreement

• Conduct full site viability assessment
• Using Social Investment Funding via NCLTN
• Pre-app and planning permission
• Using Social Investment Funding via NCLTN

Purchase land / prepare site / build

• JV partner capital, SIF & HBF, CVLT-raised capital

Realise value

• Sell or rent at afordable price
• Retain proft for next community project
• Retain freehold in perpetuity for community
• Owners sell at CPI not at open housing market price (no speculaton)