Members of CASH hold many and various ideas for how CASH could help alleviate the current housing crisis, and yet there is plenty of overlap in the visions for our CLT's activities and desired outcomes.
A financial strategy is one of the key elements that will enable us to carry through our shared intentions, and the exercise of settling on ours had CASH members discussing the options at length, when the time came for this momentous decision.
Earlier this year we called for bids to devise a financial strategy for CASH, and from a selection of bidders, we commissioned Catalyst Collective to do this important work for us, funded by the generous of support Community Led Housing Hub.
After holding a series of online meetings with CASH members and collecting our responses to their well crafted questionnaires, Catalyst Collective produced two documents for us. The first report was a fascinating break down of our sentiments and expectations for CASH, drawing out the patterns in our answers.
The second document synthesised these common views with analysis of the main financial and legal constraints we need to consider going forward, and proposed several paths that CASH could choose to pursue for our first development.
Two facets were put forward for members' consideration for this first financial modelling:
the model for the individual development where people will live
the model for CASH CLT as an organisation to enable such a development
Due to the density of the report and strategic implications of the decision, the Finance Team was asked to produce a visual representation of the variables at play in each option, for CASH to make absorbing and digesting the bulk of information more accessible.
At CASH General Meeting #21, our members agreed to model the combination recommended by Catalyst Collective:
the Traditional Housing Co-operative Rental Model model for the development
the YorSpace model for CASH CLT
We simultaneously agreed to investigate a second model for the housing development — the Mutual Home Ownership Society (MHOS) — using funds awarded to us by The London Community Foundation and Deptford Challenge Trust.
We are grateful to everyone who enabled us to reach this point, and are currently discussing optimal ways of coordinating these investigations, which will then feed into the feasibility studies being hatched by our development team.
We will keep you informed as the project evolves!