CLT Jargon Buster (pdf) - Community Land Trusts

Social HousingSponsored BodyStatutory Asset LockTenant ServicesAuthority (TSA)Turnkey contractUmbrella CLTThis has a specific meaning and is provided by sections 69-72 of theHousing and Regeneration Act 2008: “social housing” means• low cost rental accommodation (defined by section 69), and• low cost home ownership accommodation (defined by section 70).The definitions set out the type of housing that the Homes andCommunities Agency grant funding can legally help to provide.Note: Government policy is evolving and new concepts of AffordableRent are set out in the Homes and Communities Agency’s NationalAffordable Housing Programme 2011-2015.For the purposes of Model Rules for a CLT, the Sponsored Body is theNational CLT Network. Other sponsored bodies are as listed on theFSA website: www.fsa.gov.uk/pages/index.shtmlThis is available as a matter of choice for a Community BenefitSociety that is neither an exempt charity nor a Registered Provider.The Statutory Asset Lock wording is set out in the Community BenefitSocieties (Restriction on Use of Assets) Regulations 2006. If theStatutory Asset Lock is selected, the precise wording contained in thesample Rules must be used. Once inserted into the Rules it cannot betaken out. The FSA has regulatory powers to enforce compliance withthe Statutory Asset Lock.The TSA has been abolished and its functions have been transferredto the Homes and Communities Agency.Under a “turnkey” arrangement a CLT partners with a developer whowill hand over the completed homes or assets to the CLT once it iscomplete. The CLT will need to do no more than “turn the key” to setthe scheme in motion.This is a sub-regional support body that provides technical adviceand support to a CLT.JARGON BUSTER