How is the CLT financed?

East Devon District Council have available Community Housing Fund grant which can be used to support community led initiatives by providing start-up funding to CLTs to get underway and to cover things like legal costs, incorporation fees and technical and support costs. There are then grants available from East Devon District Council and from Homes England who manage the Community Housing Fund to cover feasibility studies and costs involved in the preparation of a planning application. The CLT acquires the freehold interest in land and the affordable homes are delivered by its selected Housing Association partner under a 125-year lease. The Housing Association pays a small ground rent on the completed project to the CLT which can then be used for other local projects.

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