By Michael Burt
Bellingen Shire Council resolved to progress a proposed transfer of Council-owned land at Ferry Street to Waterfall Way Community Land Trust (WWCLT) for an affordable housing project.
The decision marks another step in building a Community Land Trust housing model intended to create an affordable home ownership pathway for eligible moderate-to-middle income households.
The transfer is subject to public exhibition of proposed financial assistance, which includes selling it to WWCLT for a nominal value of $1.
This means the community can now have their say on the value of creating up to seven new homes on the 2000m2 piece of Land at Lot I Ferry Street, which is valued at around $750,000.
“This is a really big step forward and we are looking forward to the next round of community consultation,” said WWCLT Executive Officer Kerry Pearse
“We are grateful to have a council that is putting serious effort into affordable housing.”
Ms Pearse said one of the next steps is working with the Mutual banking sector on developing a residential mortgage product for a community housing model.
Bellingen Shire Council General Manager, Mark Griffioen, said staff had developed a proposed framework and probity plan to protect the long-term community interest associated with the land, should the proposal proceed.
“Council is taking a measured, transparent and carefully structured approach into the proposed transfer framework to protect the long-term public interest,” Mr Griffioen said.
“This is not about handing over public land and hoping for the best — it is about embedding enforceable protections that ensure the land is used for the approved Community Land Trust housing model and retained for affordable housing purposes.”
WWCLT is proposing a co-ownership housing model where the Trust owns the land, and the resident owns the dwelling. The dwelling can later be sold at a capped price, helping maintain affordability for future purchasers.
Community Land Trust models have been used internationally to support long-term housing affordability by separating ownership of land from ownership of the home built on it.
“Because the proposed model is intended to deliver an affordable housing outcome, it is not structured around the Trust purchasing the land at market value,” Mr Griffieon explained.
“Council will now publicly exhibit the proposed financial assistance, giving the community an opportunity to review the proposal and provide feedback before Council makes any final decision.”
Bellingen Shire Council Mayor, Cr Steve Allan, stressed that Council has not made a final decision to transfer the land.
“The public exhibition process will allow the community to consider the proposed financial assistance before Council determines whether the proposal should proceed.
Mayor Allan said the proposal reflects Council’s commitment to progressing the priorities adopted through Our Plan for the Future.
“This proposal is about testing whether a carefully structured Community Land Trust model can provide a practical and lasting local response to housing affordability, Mayor Allan said.
“For decades, housing affordability has continued to deteriorate despite policy changes, market cycles and well-intentioned interventions.”
“The Waterfall Way Community Land Trust offers an alternative worth considering. By separating ownership of the land from ownership of the dwelling, it has the potential to create a pathway to affordable home ownership that remains affordable for future generations, not only the first purchaser.”
The proposed financial assistance public exhibition period started this week and will be open for 28 days on the Have you Say section at bellingen.nsw.gov.au