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How to work up a Funding and Finance Plan for community led housing projects

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This topic contains 19 replies, has 4 voices, and was last updated by Profile photo of Amber Amber 1 year, 6 months ago.

Viewing 15 posts - 1 through 15 (of 20 total)
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  • #12196
    Profile photo of Gemma
    Gemma
    Member

    Hi Everyone

    On Wednesday 27 January at 12pm there will be a live chat here in this thread with the Right to Build team all about ‘How to work up a Funding and Finance Plan for community led housing projects’

    It’s going to be a really interesting discussion and we hope that lots of you can join us on the day!

    If you have a question but can’t make it on Wednesday, please post it here in this thread and one of the team will get back to you shortly.

    Any technical problems, please email communications@cdf.org.uk

    See you Wednesday!

    Gemma

    #12204
    Profile photo of Chris
    Chris
    Participant

    **Gemma**

    Hi Gemma.

    NALC encourages all My Community parishes to log into this exciting live web chat on Funding and Finance Plans for community led housing projects.

    Thanks,

    Chris (NALC)

    #12249
    Profile photo of Lyn
    Lyn
    Participant

    Hi
    This is Lyn Kesterton from Locality.
    I work on Community Right to Build and lead on community-led housing within Locality.
    This live chat will start at 12 noon, but if you are unable to attend, please post your question here and I will get back to you later.

    Lyn

    #12252
    Profile photo of Lyn
    Lyn
    Participant

    Hi
    There’s plenty of help and support available for anyone interested in pursuing a community-led housing project. Locality has already published two toolkits to assist groups in the early stages and a third is on the way shortly. see http://mycommunity.org.uk/resources/community-led-housing-kit/
    Please feel free to put forward questions regarding your project.
    Lyn

    #12253
    Profile photo of Lyn
    Lyn
    Participant

    Putting together funding plans is often one of the most time consuming and complex parts of a community led housing project. Most groups use a combination of grant and loans to form the backbone of their project, and getting the mix of funding sources right is absolutely crucial.

    #12254
    Profile photo of Amber
    Amber
    Participant

    Hi Lyn
    Can you tell me if community led housing projects are feasible/realsitic in central(ish) London boroughs or is the cost of land just too high?
    Thanks!
    Amber

    #12255
    Profile photo of Lyn
    Lyn
    Participant

    Community-led housing projects offer real benefits to the neighbourhoods in which they operate. If you are considering a community-led housing project but are unsure of how to start the funding plan, get in touch.

    #12256
    Profile photo of Lyn
    Lyn
    Participant

    Hi Lyn
    Can you tell me if community led housing projects are feasible/realsitic in central(ish) London boroughs or is the cost of land just too high?
    Thanks!
    Amber

    Community led housing projects are possible in London, though of course the cost of land often presents a real problem. One of the ways round this is to work with the local authority to try and achieve an asset transfer of land or more probably, properties. These can then be refurbished. You might be interested in following the work of London Neighbourhood Communities Co-operative who are trying to overcome some of these issues by getting influencers and decision makers to do something about it. http://www.lcnc.org.uk/

    #12257
    Profile photo of Lyn
    Lyn
    Participant

    For most community-led housing projects, an initial grant is key to getting a development underway. This sometimes comes in the form of an asset transfer of land or buildings. There are many excellent example of this in practice, for example in Leeds. See http://www.canopyhousingproject.org

    #12258
    Profile photo of Lyn
    Lyn
    Participant

    Most community groups progress their project using some form of loan. These are provided by a wide variety of investment bodies. If a project has been well planned, rentals achieved from the completed properties (or sales receipts) are used to pay off the loan. Groups can even achieve a surplus which can then be reinvested in other housing projects or to benefit the local community in other ways.

    #12259
    Profile photo of Lyn
    Lyn
    Participant

    Big Society Capital provide a really good guide to investment sources here
    http://www.bigsocietycapital.com/open-funds

    #12260
    Profile photo of Gemma
    Gemma
    Member

    Thanks Lyn, these are great resources and there is loads of really useful information here!

    It’s great to see an example of this in leeds – are there any others that we can look at?

    #12261
    Profile photo of Lyn
    Lyn
    Participant

    Locality will shortly be upload its Community-led housing Toolkit 3 – How to fund your project. Keep an eye on this website for it http://mycommunity.org.uk/programme/community-housing/

    #12262
    Profile photo of Lyn
    Lyn
    Participant

    Thanks Lyn, these are great resources and there is loads of really useful information here!

    It’s great to see an example of this in l

    eeds – are there any others that we can look at?

    Hi Gemma
    There are lots of examples of interesting and successful community-led housing projects around the country. See these as a starting point:
    Liverpool – http://www.granby4streetsclt.co.uk/
    Northumberland – http://www.wooler.org.uk/glendale-gateway-trust
    Birmingham – http://www.wittonlodge.org.uk/

    #12263
    Profile photo of Lyn
    Lyn
    Participant

    If you are interested in visiting other community-led housing projects, please contact me and I’ll try to help. This is a great way of finding out how others manage the funding challenge.

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