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   Mark Community Land Trust

Background Information

 

Community Land Trusts (CLTs) have been set up across the country to help keep rural communities, such as ours, sustainable.  One way to do this is through provision of affordable homes 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 way of doing things are:

 

  • Land ownership - The CLT owns the housing site in perpetuity for the community and has a long term lease with the Housing Association
  • Affordable Homes for Local People - A legally binding agreement ensures that those with a strong local connection have priority for the housing.
  • Access to grant funding. The creation of the CLT enables government and other grants to be obtained for community led projects.
  • 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 scope of the Trust provides a vehicle for Mark CLT to own, develop and protect other property and land.  Thus the CLT is enabled to help maintain the economic and social sustainability of Mark and its environs by exploring projects such as running a Shop for the benefit of the Community.
  • Democratic. The Trust is a democratic organisation - with membership open to anyone supporting its objectives.

There is a legal definition of a Community Land Trust (CLT). It must be: -

  • Owned by the Community
  • Run by the Community
  • For the benefit of that geographical Community
  • Not for personal profit

In accordance with the Cooperative and Community Benefits Societies Act 2014.

Mark CLT is registered with the Financial Conduct Authority as a Community Benefit Society to protect these features.

 

Mark Community Land Trust’s initial project is to provide affordable housing within the Parish of Mark for people with a strong local connection to Mark village

 

 

Mark Community Land Trust Limited is a Community Benefit Society

FCA Registration No. 7131R

Registered Office: Ampthill House, The Causeway, Mark, Somerset, TA9 4QA

 

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