Today iy is the Annual General Meeting (AGM) of the Stow-on-the-Wold Community Land Trust (Stow CLT). An organisation that I set up almost exactly 3 years ago, to provide truly affordable housing for the people who live or work in Stow-on-the-Wold, our charming historic market town, set in the middle of the Cotswolds. Where kids with good jobs still live with Mum and Dad, because it is too expensive to rent or buy property.

CLTs sarted in the USA at the time of the Civil Rights movement, when black americans banded together to buy land and property for their community. It spread to the UK, to Cornwall, where there are a lot of second homes and kids move away as they cannot afford to stay. I telephoned the man who had set up the first one. He said that it sounded as if Stow in the Cotswolds had the same problem as them: unaffordable housing for local people. Their aim was to provide housing a a fraction of the market rate, at a level that local people could truly afford.

“If I were you”, he said, “I would start a CLT. They are less regulated than the old Housing Associations; they are exempt from the “Right-to-Buy” legislation, so that property owned by the community remains owned by it in perpetuity; they have a good reputation and people are more likely to lend you money!” So I did. 3 years later we have a Board (I am Chairman); we are legally constituted as a Community Benefit Society and can buy and sell property and issue shares to raise capital. We are an exempt charity, regulated by the Financial Conduct Authority, so we can obtain gift aid and provide tax relief on any donations.

We still have to acuire our first property. We have tried, but this will be our lucky year!