Angmering Community Land Trust
(Registration Number 7201)
Angmering CLT is a Society registered with the Financial Conduct Authority under the Cooperative & Community Benefit Societies Act 2014.
We are formed for the benefit of the community to operate as a not-for-profit community-based organisation that develops housing or other assets at permanently affordable levels for long-term community benefit. Our Objects are to carry on for the benefit of the community the:
- business of providing and managing housing
- promotion of regeneration in areas of social or economic deprivation
- provision of land or buildings for use as workspace
- provision or maintenance of a community shop or Post Office
- provision of such other community resources and activities that benefit the area
- provision, supply and maintenance of renewable energy.
What we are trying to do?
Angmering Community Land Trust intends to provide low-cost housing for rent for local people. With new housing developments causing an increase in overall house values across Angmering, it is often very difficult or sometimes impossible for sections of our community to find housing locally that they can afford.
By building low-cost housing, we believe we can offer rental agreements below market rental values. The final rental figure is determined once the overall build costs have been calculated and not on profit margins.
Building low-cost housing does not mean low quality housing. Each house will be built to current building regulation and design standards and come with a NHBC warranty, whether these are built by ACLT or acquired through a developer.
How do we finance the developments?
The Trust doesn’t have a large pot of money of its own. In the case of Mayflower Way, the land for our development was donated by Angmering Parish Council for a nominal sum. This was on the strict understanding that the Trust would build low-cost housing for local people.
As a properly registered Society the Trust is able to acquire grants and donations to enable work to continue. Primarily these grants have come from the Community-Led Housing Fund. However, these grants are usually intended to enable the ACLT to develop the plans and works required to obtain planning permission, they are not to actually build the houses. Such monies must be obtained from banks who will provide a capital and interest mortgage for the development. The size of the mortgage available for us to borrow is limited by the rental income we can charge to pay back the loan.
This link showcases several communities who have taken the first steps to become a CLT and then achieved significant results https://youtu.be/kKK3DWVxkps