Rationale for Chanctonbury CLT formation
Chanctonbury CLT was formed for the benefit of the community to operate as a Community Land Trust in the parish of Thakeham and its surrounding parishes. Its objects shall be to carry on with the express purpose of furthering the social, economic and environmental interests of the community, by:
- Engaging in the business of providing and managing affordable rental and shared ownership housing and providing assistance to help house people along with the development of associated facilities, amenities and services.
- Promotion for the community’s benefit of regeneration in areas of social and economic deprivation in particular in Thakeham and surrounding parishes by any means that the Board considers reasonable and will be of benefit including all or any of the following means:
- The provision of workspace, buildings and/or land for use on such terms as the CLT shall determine;
- The provision and/or maintenance of a community-based shop and/or post office;
- The provision of such other community resources and activities in the area of benefit as the Board shall determine from time to time for the benefit of the community;
- The provision, supply and maintenance of renewable forms of energy.
Chanctonbury CLT shall not trade for profit and any profits shall only be applied for the purpose of furthering the CLT’s objects and/or in accordance with these rules.
Nothing shall be paid or transferred by way of profit to Shareholding Members of CCLT.
Restriction on use of assets
All of CCLT’s assets are subject to a restriction on their use. The society must not use or deal with its assets except in certain circumstances for example:
- Where the use or dealing is, directly or indirectly, for a purpose that is for the benefit of the community;
- To pay a Shareholding Member of the society the value of their withdrawable share capital or interest on such capital;
- To transfer its assets for example to one or more of the following:
- A prescribed community benefit society;
- A community interest company;
- A registered social landlord which has a restriction on the use of its assets;
- A charity (including a community benefit society that is a charity).