• Community-Land-and-FinanceCommunity-Land-and-Finance

Place Category: Business Services, Communities, Finance & legal, Housing, and Impact Measurement

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  • Community Land and Finance CIC (CLF CIC) is a Community Development Finance Institution , providing finance solutions to community groups undertaking projects that benefit local people and help achieve more sustainable and functional communities.

    Examples of projects that may qualify for funding include: Affordable housing, community shops or workspace and community energy projects.

    CLF CIC currently operates two impact loan funds:

    1. The Affordable Homes Rental Fund offers development and long-term finance to CLTs providing affordable rental housing in their local community;
    2. The Community Share Underwriting Fund provides bridging finance for community-led groups raising funds through a community share offer so that they may commission their projects even if they only raise 50% of the equity required.

    More information on the Funds is available from our website.

    Launceston                               Manchester                            Bristol

    (HQ & Mailing Address)

    42 St Thomas Road,                                      3rd Floor Eagle Building                         13-14 Orchard Street

    Launceston,                                                    62-68 Cross Street,                                   Bristol,

    PL15 8BX                                                         Manchester,                                               BS1 5EH

    jyghjyjgy                                                          M2 4JQ

  • Address: HQ/Mailing Address: 42 St Thomas' Rd
    Launceston
    Cornwall
    PL15 8BX
    United Kingdom
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  • Social Impact Statements:

    Social Impact Statements

    The Social Enterprise Mark criteria includes a requirement that the applicant can demonstrate that social and/or environmental objectives are being achieved.

    In support of this, new applicants and renewing Mark holders must submit Social Impact Statements that summarise their headline activities and achievements, helping show how they are striving to make a difference and stand up to scrutiny of purpose as a social enterprise.

     

    Updated September 2016


    1) Providing finance solutions for community groups

    Community Land and Finance CIC (CLF CIC) is a Responsible Finance provider. We provide finance solutions to community groups undertaking projects that benefit local people and help achieve more sustainable and functional communities.

    Examples of projects that may qualify for funding include: Affordable housing, community shops, pubs or village halls; workspaces and community energy projects.

    CLF CIC currently operates two impact loan funds:

    • The Affordable Homes Rental Fund offers development and long-term finance to CLTs providing affordable rental housing in their local community;
    • The Community Share Underwriting Fund provides bridging finance for community-led groups raising funds through a community share offer so that they may commission their projects, even if they only raise 50% of the equity required.

    In the past year our Community Share Underwriting Fund (CSUF) supported 6 community projects with £2.28m total underwriting. Our Affordable Homes Rental Fund (AHRF) supported two innovative Community Land Trusts to a total of £1.13m total investment.

    More information on the Funds is available from our website www.resonance.ltd.uk

     


    2) Measures of support provided

    In the past year we supported 6 projects with CSUF and engaged with an average 137 local investors per project. Our underwriting offers unlocked 3.5 times as much in community share funding, and 6.4 times as much in total project investment for communities. In all 37% project profit was allocated to community benefit.

    Our AHRF worked with two CLTS - 17 homes were delivered; 29 adults were housed, 20 children were housed and 11 children added to the local school roll - in all 67 people were involved.

     


    3) Case studies

    Broadhempston Community Land Trust is a community-led organization that built six self-build homes in South Devon, due for completion this year. The AHRF committed £880,000 of investment to help make this project a reality.

    Osney Lock Hydro is a community owned hydroelectric scheme on the River Thames in Oxford. CSUF underwrote their share offer (which rased £640,000) to the value of £150,000.

    Other beneficiaries:

    • Stockwood Community Benefit Society
    • Ecodynamic
    • Craigmillar Eco Housing
    • Bristol Community Land Trust
    • Cornwall Community Land Trust
    • Chelwood Community Energy

     


    Supporting evidence