The first project of the CLT is to provide affordable housing for people with a strong local connection to the parish of Georgeham. The Parish includes the two villages of Georgeham and Croyde, and its surrounding hamlets; Pickwell, North Buckland, Forda, Cross, Putsbourough, and Darracott. Future projects could involve taking on other assets important to the community. For example, producing green energy for the benefit of the Parish, or running a Parish work hub, etc.
Georgeham Parish CLT is a Community Land Trust. There is a legal definition of a CLT. It must be:
Owned by the Community
Run by the Community
For the benefit of that geographical Community
Not for personal profit
* Housing and Regeneration Act 2008 Part 2, Chapter 1, Clause 79.
To achieve this Georgeham Parish CLT has been registered as a Community Benefit Society and it needs members from the community to join and help achieve great things. Each member will have one, equal vote at general meetings and be able to put themselves forward as a board member and to elect the board.
A Community Benefit Society is joined by members owning shares in it. Unlike a share in a company (such as British Gas) you will not ‘own’ part of the CLT and will not receive any payment from profits. The shares cannot rise in value but may lose value. You cannot sell them.
As a Community Benefit Society, as well as guaranteeing democracy and ensuring its assets are protected, the CLT will be able to raise large amounts of money through issuing shares. Currently, we just want membership.
We are asking for those who want to support our initial goal of providing affordable housing for local people to buy a £1 share and join us.