Council commits $500K to affordable housing trust for community
Published on 19 June 2024
Mount Alexander Shire Council is progressing plans to make affordable housing possible for more people in our shire.
This week, Councillors unanimously agreed on a proposal to establish the Mount Alexander Affordable Housing Trust, an independent charitable organisation which would hold land and funds for the development of affordable housing locally.
The first step in the process of establishing the trust is the adoption of what’s known as a ‘trust deed’ by Councillors. This is a founding document for the trust, and outlines its purpose and scope.
The next steps will see the appointment of trust advisory committee members, a trustee to manage the trust, and call for pledges of land and money from community members for the trust.
Capital raised in the trust through tax-deductible donations of land and money will be used to develop and build affordable homes in Mount Alexander Shire.
Mount Alexander Shire Council’s Mayor, Cr Matthew Driscoll said the trust was an exciting option to help address the housing shortage in our community.
“We need to look at how we can support people who already work or live in the shire to have a home here, and one that’s affordable,” said Mayor Driscoll.
“We are working on a range of initiatives that aim to make more affordable homes available for our community, and one of these ideas is the trust.
“We’ve allocated $500K from our 2024-2025 Budget to the trust because we believe it can make a long-lasting and positive difference to the lives of residents.
“I’m proud to say too, that we’re one of only a handful of local governments in Australia to try something as unique as this.
“Our vision is to reach a point where we have enough affordable housing, and our community never experiences a situation like this again,” said Mayor Driscoll.
For more information, or to follow the progress of the Mount Alexander Affordable Housing Trust, visit www.shape.mountalexander.vic.gov.au/affordable-housing, or contact Clare Richards, Council’s Housing Solutions Broker, on 5471 1700 or email affordablehousing@mountalexander.vic.gov.au.
Further information:
The Mount Alexander Affordable Housing Trust will provide affordable housing solutions for the Mount Alexander Shire community.
The trust, which has been launched by Council, will operate independently of Council and be overseen by a trustee, and informed by an advisory committee.
Capital raised in the trust through tax-deductible donations of land and money will be used to develop and build affordable homes in Mount Alexander Shire.
Unlike the way the current housing market works, homes purchased or built through the trust will remain affordable, forever.
The trust will partner with not-for-profit housing providers who will then deliver and manage affordable housing on trust land.
Residents eligible for housing through the trust would include (but are not limited to), the following people:
- Residents experiencing family violence
- Residents living with disabilities
- Ageing residents
- Residents with health issues
- Residents struggling to afford private market housing.
Process for establishing the Mount Alexander Affordable Housing Trust:
Step 1: Council adopts trust deed.
This is the first step in establishing the trust. It’s the founding document, and sets out the vision for the trust and its purpose and scope.
Step 2: Appoint trust advisory committee members.
The trust will be supported by an advisory committee, which will include community members and individuals with specific skills and experience.
Advisory committee members will have a significant role to play in shaping the trust, working with Council to:
- Considering options for projects for the trust to pursue
- Assist Council to select and appoint a trustee to manage the trust.
Step 3: Call for pledges of land and funds for trust.
During this phase, community members can pledge land and/or funds to the trust.
When the trust has enough capital (combination of land and funds) to pay a trustee and fund an initial project, the trust will start operating.
Step 4: Appoint a trustee to manage the trust.
Council hands over the management of the trust to the trustee.
The trustee manages the day-to-day operations of the trust, and is supported by the trust advisory committee.
Step 5: Kick off first affordable housing project! Goal!
When the trust has significant capital through donations of land and funds, it will pursue its first project to develop affordable homes.