RI-03-CS-Bristol Community Land Trust.pdf

RI-03-CS-Bristol Community Land Trust.pdf - page 1/2 - Bristol Community Land Trust

Bristol Community Land Trust

RI-03-CS-Bristol Community Land Trust.pdf - page 2/2 - in workshops and events, eventually it w…

in workshops and events, eventually it was only Bristol CLT members reflecting a wider, interested community in Bristol, who stayed engaged and worked together to become de facto clients for the scheme. However, just as the project was able to create rules in the interests of a community of place outside of conventional processes of local democracy, Bristol CLT has been subject to national regulations which have shaped the project. The second scheme may not include any affordable to rent properties. This is because the rental income from the `affordable rents alone will be unable to repay sufficient debt finance to fund construction costs. To overcome this, the established approach has been gap funding by government through the Homes & Communities Agency (HCA). However, recent policy changes have shaped the housing support funding profile to focus exclusively on home ownership. In turn, it is now extremely difficult for the CLT to deliver rent-only properties. This risks diverting it from its organisational vision. Bristol CLT is therefore looking for a new financial model to enable it to fund the development of affordable rented accommodation.