What is a Community Land Trust (CLT)?
The definition below has been drafted by Community Finance Solutions and others in an attempt to get CLTs recognised as a discrete legal entity.
'Community Land Trust' means a non-profit organisation which is an industrial and provident society, a company limited by guarantee or other incorporated body whose governing instrument contains provisions to the following effect:
(a) the Primary purpose of the organisation is to hold land and other assets in order to promote the social, economic and environmental sustainability of a specified local geographic community by providing or facilitating the provision of affordable or other sub-market housing or other community-based facilities and services,
(b) the organisation will not dispose of its land and other assets save in the furtherance of its objectives as set out in paragraph (a),
(c) the membership of the organisation is open to organisations which are located in or persons whose principal place of residence, work or business is located in the specified community the organisations isestablished to serve (although the organisation may have different classes of membership),
(d) over 50% of the governing body is elected by the members of the organisation,
(e) the organisation is accountable to the local community through annual reporting or otherwise, and is responsive to the local community's needs and to representations made on its behalf, and
(f) it is an organisation established to help enable the community and those who live or work there to benefit from the land or other assets it holds.
