6.2.4. Other resources

If, after checking out the previous options (6.2.1, 6.2.2 & 6.2.3) you're still unable to raise capital, you may wish to further explore the examples below.

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Other resources may be able to make housing schemes viable. For example:

  • Local authorities or other public bodies may release land or buildings, sometimes at sub-market costs, in order to enhance the affordability of a new housing scheme, or carry out works to make land or buildings usable.
  • Local landowners in rural areas have been known to sell land at sub-market prices to support housing development for local people.
  • Local authorities may be able to use their borrowing facilities to provide low cost loan facilities.
  • It may be possible to cross subsidise a CCLH scheme from using some parts of a site for market sale or through some other method to raise income.
  • Power to Change is an independent charitable trust endowed with £150 million in 2015 from the Big Lottery Fund to create better places through community business in England. A community business is defined as a local community-led social enterprise and can include anything from a community pub or shop, to larger scale community hubs or community-led housing projects. In 2017, Power to Change is committing an initial £1m to fund the early stages of community housing projects in urban areas of England. This funding will help local groups move from their early plans to starting their housing projects on site.
  • Big Society Capital may be able to provide loan funding to support community-led housing initiatives. There could be various other local grant and trust funds that may make a contribution for particular reasons.
  • Some CCLH schemes raise initial working capital through online crowdfunding or other fundraising methods, such as benefit gigs, jumble sales or sponsored runs. These methods are unlikely to provide the capital needed to buy or develop homes, but they can raise the profile of a group in the community, bringing in grass roots support and building the community capacity of the organising team.