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Hook Norton Community Land Trust Unveils Trailblazing Affordable Housing Solution

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In a bold move, Hook Norton Community Land Trust (HNCLT) proudly launched its ground-breaking community share offer on 20 February 2024, at Hook Norton Sports & Social Club and online at www.hooknortonclt.org.uk/share-offer.

This visionary initiative tackles the housing crisis and climate emergency head-on by empowering the community to shape affordable, energy-efficient homes powered by locally generated renewable energy.

Project Highlights

  • Investment Goal: HNCLT aims to raise £500,000 through its share offer, offering investors up to 6% annual interest starting May 2027.
  • Flexibility: With an investment range of £250 to £50,000, this initiative provides a unique opportunity for diverse participation.
  • Withdrawal Options: Withdrawal requests will be considered post-May 2029.

Watch Our Project Video Here

Community-Driven Transformation: The HNCLT project in Hook Norton directly addresses the urgent challenges of the housing crisis, energy crisis, and climate change. By investing in the share offer, individuals become part of a transformative project delivering affordable sustainable homes for local families, individuals, and couples with low incomes.

Homes in Hooky for Local People: Combatting fuel poverty in rural Oxfordshire, the project provides affordable, energy-efficient homes to local families and individuals. A microgrid manages renewable power distribution, offering discounted electricity bills, promoting sustainable living, and addressing energy costs.

Local resident Rachel Cronin shares her perspective, emphasising the unmet options and the community's dire need for accessible housing. She states, “I’ve lived in this village for six years now, and I’ve seen the options that are unavailable to me. I watch every new development being built with a sense of dismay, and a strong understanding of the choices I would have to make to have access to what’s on offer. I also refuse to give in to the nagging suspicion that I don’t deserve to stay here because I haven’t sacrificed my ideals or tried hard enough.”

Positive Impacts

  • Benefiting Families: 12 homes supporting 24 adults and 24 children.
  • Energy Cost Savings: SNRG provides a 10% lower unit rate, reducing residents' energy costs.
  • Community Facilities: Ensuite Spare Room, Therapy Room, Car Club, Hooky Hub, and PV Generation foster community and sustainability.
  • Quality of Life Improvements: Local employment opportunities, support for families and retirees.

Community Share Offer Scheme: "Homes for Hooky" empowers local residents through community shares, enabling direct investment in a housing project that addresses community needs. Emphasizing sustainability, the initiative uses eco-friendly materials and renewable energy sources, preserving local assets, providing affordable and sustainable housing, and fostering a stronger, more inclusive community. Relying on community shares enhances resilience and self-sufficiency, while potential financial returns incentivize local investment. The democratic decision-making model builds trust and social capital, strengthening community bonds.

www.hooknortonclt.org.uk

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