Somerset Trust getting close

Somerset Co-operative Community Land Trust (SCCLT) is closing in on a transformative fund raising. We reported earlier this year on their plans. There are two main projects, both planned to be close to carbon neutral:

  • to build eight affordable 1-bedroom flats at East Reach in Taunton and
  • to develop a disused brewery site in Wiveliscombe with over 20 homes and additional work hubs

To deliver this much needed project they need to raise £534,000. To date we understand they have had applications totally £375,000. This includes applications for shares and loan stock.

The offer closes on 14th December. So there’s not a lot of time, but it is still doable. And it has never been more important.

The reality of rising unemployment looms large as the impact of Covid on the economy hits home. Many people are at risk of financial hardship that will impact their confidence, health, and future job prospects. SCCLT Board Member Alan Debenham. “Developments like this will become more essential than ever in the coming years. We believe they can help solve social problems and bring about long-term social change.”

And those thoughts are echoed by former SCCLT tenant, Caitlyn “We couldn’t secure private rented property. The council wouldn’t step in until we were on the streets, and then we saw SCCLT’s advert. They helped set in motion a series of events that has led to, not only my wife and I being self-sufficient, but my being qualified enough to gain entry to a degree course. At the point where we couldn’t have been any more rock bottom, to this change around in only two and a half years is incredible.

These projects can make a real difference to real people. To make the projects a reality, SCCLT need to raise a further £175,000 in a little under four weeks.

If you are interested in investing you can find out more from landtrust@somerset.coop or phone Alex Lawrie on 07963 917472

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