The Mount Alexander Affordable Housing Trust
Council has been looking at ways to assist our community in accessing more affordable rental housing, which is why we are establishing the Mount Alexander Affordable Housing Trust to help make this happen.
What is the Mount Alexander Affordable Housing Trust?
The Mount Alexander Affordable Housing Trust (MAAHT, or trust) will be a charitable trust that will provide affordable rental housing solutions for the Mount Alexander Shire community.
The trust will achieve this by securing land that will then be used to develop housing on. It will accept donations of land or money from community members.
The trust will then oversee the development of housing on this land, either by contracted builders or a charitable housing partner. Once built, the housing will be managed in the long term by local or state-wide charitable housing partners.
The Trust Deed, which is the founding document, is focused on delivering affordable rental housing while allowing room for flexibility in the ways that affordable housing may be provided. This allows room for both diversity, and the capacity to respond to differing and changing needs.
The organisation of the Trust is made up of the Trustee and Advisory Committee. The Trustee will be an organisation with the expertise to manage a housing trust.
In summary, the trust will be an independent organisation solely dedicated to addressing affordable rental housing needs in Mount Alexander Shire.
How will the trust differ to private market housing?
The purpose of the trust, and the land and housing on it, is to provide rental housing to community members at an affordable rate.
No one can privately benefit from any increased value of land that belongs to the trust. By keeping the value of the land out of the equation, the trust will be able to keep housing affordable.
This differs from private market housing in that there is no monetary profit to be had.
How will the trust differ to private market housing?
The purpose of the trust, and the land and housing on it, is to provide rental housing to community members at an affordable rate.
No one can privately benefit from any increased value of land that belongs to the trust. By keeping the value of the land out of the equation, the trust will be able to keep housing affordable.
This differs from private market housing in that there is no monetary profit to be had.
Council is seeking to appoint a Trustee
Council is currently seeking to appoint a suitably qualified and experienced organisation to the Trusteeship of the Mount Alexander Affordable Housing Trust (MAAHT, or Trust) and we are asking the sector to provide feedback about any challenges and opportunities they see in operationalising the terms of the Trust.
For information and to provide feedback visit the Provide feedback on the Request for Proposal page.
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FAQs
Who will own the trust?
The Mount Alexander Shire community will own the trust. The trust aims to address the needs of our community and therefore belongs to our community. It is managed on our community’s behalf by the Trustee, in cooperation with the locally appointed Advisory Committee.
What forms of housing are possible through the trust?
Many different forms of housing are possible through the trust, such as:
- Community housing – rental housing for residents on very low to moderate incomes
- Independent and retirement living – secure rental housing for older residents, younger residents or people living with disability
- Co-housing – private living space with shared common facilities
- Cooperative housing – a group of residents who work together to manage the housing
- Community land organisations – residents build their own homes on long-term land leases
How will the trust meet the shire’s affordable housing needs?
The trust will provide long term leases to other charitable organisations who will then deliver and manage affordable housing on trust land.
Charitable organisations can partner with the trust if they provide long term affordable rental housing.
If the trust gets to a point of having enough rental housing to meet local needs, it may also choose to partner with organisations who facilitate home ownership for eligible recipients, while the land itself continues to be owned by the trust.
Who will benefit from the trust?
The trust will serve the Mount Alexander Shire community and has broad eligibility criteria.
Residents eligible for trust housing include, but are not limited to, the following people:
- Residents living in poverty
- Residents experiencing family violence
- Ageing residents
- Residents with disability
- Residents with health issues
- First Nations residents
- Residents struggling to afford private market housing (including working people)
How can the trust support itself?
As a charitable organisation the trust can fundraise, seek donations, partner with philanthropic funds, and apply for government grants.
The trust can also financially support its charitable housing by making income through leasing some of its land for provision of housing at market rates. These rentals would be to people who need housing, can afford market rate rentals, but can’t find the housing they need in the private market. This option allows the trust to make income to support delivering affordable housing and at the same time address other important local housing needs.