RAD
Community participation, partnership, and governance:
Scheme Implementation
RAD Phase-1 Regeneration is holistic. The landowner is the public-sector; the Greater London Authority (GLA).
By leading this project, the GLA is shouldering a risk that in other times has been passed on to a private deloper. However, the risks are low: the proposals set out in these pages represent tactically urbanist measures - subtle, but effective. The benefits that they reap will reflect back unto the public-sector. The GLA will retain jurisdiction of the public realm, to allow for cohesion with later regeneration phases, and the wider built environment.
RAD
CLT:
United we rise.
Ownership of the private buildings on the RAD is to be transferred into a Community Land Trust (CLT) in which the GLA can remain a stakeholder, in partnership with community. A steering group will be set up, driven by a core community force; a-la PEACH and E16 CLT.
This is a radical move. By this measure, community is established and safeguarded; a key stage in the process of cementing RAD's future.
Core Objectives
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Prioritising local people and enterprises
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Circumventing gentrification
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Maintaining affordability and availablity
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Allowing community governance
Precedence - The Westway Trust
Media Source: Westway Trust
Revisiting the Westway Trust (earlier case study) from a CLT and funding perspective, one can glean that they are funded largely by income from their own investment holding and leasing land to the community, alongside government grants based on their charitable status⁶.
RAD CLT should seek to replicate this method of operation; leasing and renting at affordable (under-market) rates.
In terms funding, the supplementary introduction of a Community Share Offer (CSO) will be employed alongside the above. The benefits are multiple: as an extra safeguard for fundraising⁷, and as a way to provide individual community members with stakeholdership. To ensure engagement, the CSO will be a precursor to renting or leasing.