NW3 CLT’s 2021 AGM
Thank you to everybody who attended our 2021 AGM - it was great to see some familiar (as well as some new) faces.
Here are the minutes from that meeting, summarising the work our CLT has done over the last twelve months.
NW3 CLT AGM 08/07/2021
Present: Sanya Polescuk (SK), Silvie Jacobi (SJ), James Norton (JN), Calum Millbank (CM), Nina de Ayla Parker (NdAP), Will Coles (WC), Josephine Field (JF), Irena Seget (IS), Wu Gang (WG), Mark Nilsson (MS), Meave Ryan (MR), Bradley Tollon (BT), Colin Archer (CA), Laurence Dumont (LD), Sophie Haggerty (SH), and Bogdana Ghinescu (BG). Apologies were received from Melissa Merryweather (MM)
Meeting opened, 18:00
(1) Approval of minutes from last AGM
No comments arose on the minutes of the last AGM in May 2020. SP moved; WC seconded.
(2) Director's Report
SP read out the following report:
“It is quite difficult for me to resist the temptation of a healthy dose of self-congratulation tonight. But as we achieved so much unprecedented stuff since our last AGM in May 2020, I think I will just give up immediately.
So, as unprecedented stuff goes, I will do it chronologically: I will start with mid-July 2020 when with the help of Altair, our amazing Project Managers, we submitted a Gateway report to the Council. This described in good amount of detail our organisation, our plans and ideas for developing 31 Daleham Garden and how we intend to go about it, both organisationally and financially. The report was intended as a briefing document for the Council's Cabinet for their September Cabinet meeting.
On 16th September 2020, the Council Cabinet voted unanimously in favour of approving off-market sale of their site at 31 Daleham Gardens to a Community led Developer. They stopped short of naming such a developer but put on record that it would have to be a local Community Land Trust.
We promptly organised an invited competitive interview with prospective executive architects. We invited 4 firms to present their proposals for the site. They did so virtually to 15 of our members and 2 managers from Altair on 4th December 2020. After presentation, Q&As and a session of members’ voting, Mole Architect came out as the wining architect. We have been working with them since April and just had an incredibly positive virtual meeting with Camden's planning officer about the direction of further development of our proposal. Our current plan is to apply for Planning Permission in Spring next year.
Going back to last year in order to illustrate how we got to where we are now: Camden’s not naming a CLT in their Cabinet decision in September last year meant that we had to participate in a public bid for the site. In other words, we were in competition with others. On 26th February 2021, again with the help of Altair, we submitted our Open Expression of Interest and waited. It was nerve-racking.
On 15th April 2021 we finally heard the Council’s verdict - NW3 CLT have been chosen as a preferred partner on developing 31 Daleham Gardens. In the words of our amazing supporters and mentors from Community led Housing Hub - “it will now be very embarrassing for LB Camden to say they couldn’t agree terms (of sale) with (us)”. Our Comms team, headed by Will and Silvie did a great job of putting together press release and re-branding our Twitter account as you can see
In addition to appointing the Architects, after competitive tender, we have also appointed the Lawyers. They have been checking legal details that apply to 31 Daleham Gardens, such as covenants. They are also looking into draft details of Heads of Terms that Camden provided. This is all in preparations for impending sale negotiations with Camden this coming September.”
JN then explained the sub-committee structure to the meeting, outlining the Roles and Responsibilities matrix.
(2.1) Project management
JN presented the formal NW3 CLT programme and Gantt chart, and summarised its contents, in particular the financial plan, the relevant purchases that need to be made, and the timetable to completion. He also thanked Altair for working with NW3 CLT on this.
(2.3) Legal
JN announced that the CLT has selected Pennington’s based on their previous work with CLTs and their good value for money. He also explained how Pennington’s will help us with the relevant sales contracts when we purchase the land.
(2.4) Finance
JN explained how the CLT has received £130,000 from Community Led Housing so far, and that as of this year £70,000 remains unspent. This money will most likely be allocated to our architects in support of our pre-planning application, to Altair our Project managers and to our solicitors. Triodos Bank will likely be our senior lender covering up to 75% of our project Capital cost. In total, the project will cost £8-10 million. JN also ran through other funding options, including a community shares offering enabled through Ethex’s financial platform. JN gave credit to SJ and IS for exploring fundraising options to meet our operational costs.
(2.5) Treasury
WG presented the CLT’s accounts. He explained that the accounts are now separated into three different columns due to loans from CLH, which are restricted funds that have conditions of them. Our expenses were mostly the same as last year. Our main income was £30,000 from CLH. Our total income was £30,239.96 and our total expenditure was £10,825.32. WGadded that our accounts are going to be outsourced, and that our new accountants will deal with the relevant auditing.
JN added that £10,000 the CLT had paid to Altair in 2019 was for development of financial viability modelling s/w (PodPlan) and training to use the financial viability model, which any members are free to request.
(2.6) Fund Raising
SJ reported back that the CLT had just put in a bid for £2,300 from a fund that sponsors community uplift projects as part of the recovery from the COVID-19 pandemic. We should hear back from them in August. Our website now has a PayPal function where individuals can donate one-off or set up a monthly donation to the CLT. SJ also appealed for help from members with fundraising experience.
(2.7) Comms
SJ reported how we had recently relaunched our website and chosen a new logo for the CLT. She added that the new website made it easier to communicate events. We also continue to send out regular newsletters.
WC reported that he had been in contact with Grace Kelly at Camden Council in dealing with the CLT’s external communications. Most recently, a press release announcing our new partnership. WC anticipates greater press coverage when the building processs starts.
(2.8) Registered Providers
SP reported that there were no new updates, but that CDS Coops was very interested.
(2.9) Tenure mix
JF reported that more progress will be made once we have more information based on what Camden Council wants and needs, and what our membership wants and needs. All of this must go into the financial viability model, Pod Plan, which will be down further down the line. We are aware of the general needs of our members and of Camden residents, but more detailed data is needed.
(2.10) Allocations
SJ reported that the basic framework was still in place, as accepted by our 2019 AGM. She added that we will need to consult with Camden Council on this issue, and both them and CLT will have to set down some red lines going forward.
JF emphasised it was important not to revisit decisions we had already made, but to use these decisions as a starting point from which to build.
SJ appealed for more members to help on this subcommittee.
(2.11) Affordability
SJ reported that the group had formed organically and has been exploring what ‘affordability’ means in practice. The group has been surveying members about their incomes and their expectations on affordability. They are in contact with Dave Smith and Colin Archer.
(2.12) Sustainability
CM reported that the CLT is yet to appoint a sustainability consultant, but that Camden Council is very receptive to our ideas on creating a less impactful living environment. More work will be done once the consultant has been appointed.
SP also added that our architects, Mole, emphasised sustainability in their submission and that this was one of the many reasons they were selected.
(3) Approval of Accounts
SJ reported that the accounts have been filed with the FCA, and JN requested they be shared with members as approved. SJforwarded; JN seconded.
(4) Approval of alterations/additions
None required.
(5) Any Resolutions
None tabled.
(6) Election of Directors
JN was re-elected (SJ proposed, JF seconded)
CM was re-elected (NdAP proposed, SP seconded)
MM was re-elected in absentia (JN proposed, CM seconded)
SP was re-elected (JF proposed, CM seconded)
JF announced that she was standing down as a Director and various members gave thanks for her service.
(6a) AoB
JN ran through the following timetable and stated that any help at any point in the project would be very much appreciated:
Partnership with Camden. (1) The contract to acquire the lease for the property. (2) Project management. (3) Allocations team. (4) Finance team.
Pre-planning application, expected at the end of September.
The demolition of 31 Daleham Gardens, which originally expected take place in October 2020, but has been delayed and is now expected by end Oct 2021
The planning application to Camden Council, which we expect to submit in March 2022.
(7) Q & A
No questions asked.
Meeting closed, 19:20
