BACKGROUND TO STOW COMMUNITY LAND TRUST (“STOW CLT”)
Stow CLT has been established as a not-for-profit Community Benefit Society charitable organisation and is a member of the National Community Land Trust Network. Any property it owns is held in perpetuity for the benefit of the community. This enables local people to develop and manage truly affordable housing which will be rented or purchased at a price that local people can afford and will be below the market rate.
Stow CLT’s principal objective is to tackle the need for TAH head-on, prioritising local people, key workers and the rural skills sector to safeguard the future social and economic well-being of Stow.
Stow CLT’s special status unlocks a range of potential Government funding support. Additionally, the Cotswold District Council (CDC) Planning Department will provide pre-application planning advice free of charge for CLT schemes for all-affordable housing projects.
Further sources of funding and co-operation are also available from Stow Town Council (STC) together with access to a wide range of financial and legal advice provided by the National CLT Network.
As Stow CLT’s mandate is to deliver all-affordable housing schemes to meet Stow’s identified local community housing needs, we are able to consider ‘exception’ sites outside the development boundary, which would not otherwise be considered for commercial residential development.
Stow CLT’s charitable status also enables it to enjoy a degree of influence in tailoring its allocations policy to meet Stow’s particular housing needs by prioritising people with local connections and those who play a pivotal role in safeguarding the social and economic wellbeing of Stow. (See Appendix 1).
Stow CLT is now ready for the next stage - to build its first development - but, to achieve this we need development land/premises, funding loans, investments, and gifts.