In more detail
A development trust is a partnership organisation which brings together people and organisations with a stake in a locality to enable them – through shared ownership of assets – to lead and attract investment in making the neighbourhood a better place to live. Typically, a local development trust is a body set up to manage a local asset by people and organisations with an interest in the improvement of an area to:
- carry out improvements to the locality including the local physical and social environment and the skills of local people
- provide services to earn income and enable others to carry out improvements to the area
- lobby for and promote the improvement of the area by larger organisations including in partnership with local people and organisations.
Development Trust Structures
A trust is non-profit body which operates as a social enterprise: in a business-like way, but generating social value as well as economic value and re-investing any surplus into its own development and that of the area. Trusts do not have a particular legal structure and they can be set up as non-profit companies limited by guarantee (CLGs), with or without Community Interest Company (CIC) status, co-operatives or charities (including as Charitable Incorporated Organisations). In order to achieve their objects, trusts must be able to enter into contracts to employ staff, pay contractors, charge customers etc and so need to be incorporated (have their own legal identity).
Asset Based Regeneration
Local development trusts are a form of neighbourhood company. They are often associated with and active exponents of an approach to local development called asset based regeneration. This was developed by a number of pioneering trusts from the 1960s onwards and become the guiding philosophy of the Development Trusts Association which merged to form Locality in 2011.
Asset based regeneration emphasises the ownership of local assets (as opposed, for example to their management or the ability to earn fees) in order to generate revenue that can be re-invested in the area. Although the most obvious asset for development trusts to use ion this way might seem to be housing (which generates ready and reliable revenue in the form of rents), not many trusts own housing but tend to own areas of land and community buildings instead.
| Key Facts:
Development Trusts are community-led bodies which may be supported by local businesses and public agencies as well as individual members. They are generally set up to manage a lcoal asset or group of assets - typically including a building which is used as a meeting place and offers workspace. Any profit they make from services they provide is re-invested in improving the neighbourhood. |
Page Links from here
Locality is the network for development trusts and other similar bodies.
In this toolkit see:
OR you can use the navigation menu above right to look at other parts of the toolkit.
BIRMINGHAM COMMUNITY PLANNING TOOLKIT DEFINITION SHEET This sheet may be reproduced in paper or electromic or any other form but please mention it was made by Chamberlain Forum Limited for Birmingham City Council supported by Department for Communities and Local Government.
| created: 2016-06-16 11:08:47 | by: admin | status: f published |