South Worcestershire Community Land Trust Limited
(Community Benefit Society, Financial Conduct Authority.
Registration number: 8593. Registration date: 25 March 2021.)
The Society will act as a community land trust. It will, on a not-for-profit basis, purchase, develop and maintain affordable housing in South Worcestershire and Malvern and surrounding area and will provide associated facilities, amenities and services.
➢ People in South Worcestershire and Malvern and the surrounding area will be able to reside in a home which the society has built or facilitated the building of and make use of other services and activities provided or supported by the Society.The Society will benefit the wider community because it will relieve the pressure on the local housing supply by building, or enabling the building of, affordable housing.
➢ The Society must ensure that its land, property and other assets are only used in a way which benefits the local community.
➢ The Society will only be able to pass its assets to entities established for the same or similar purposes on any dissolution.
➢ Members of the local community will be able to become members of the Society to have a say in how it operates and the activities it undertakes.
➢ The Society can apply for grants, seek capital from members, and take out loans.
➢ Interest may be paid on community shares.
➢ The Society has a Board of Directors responsible for the management of the Society’s business based on approved Rules.
The basic Society was formed and the successful application to the FCA was made by the incorporated charity EngageMalvern during a 12-month period in 2020-21 and as part of a Government-funded pilot project to develop Truly Affordable Community Led Housing.