Parracombe Community Trust

Parracombe Community Trust is one of hundreds across rural Britain. The trust has been set up to enable and manage key initiatives within the village and as part of the parish plan. It currently has three projects in its sights – a community shop, affordable housing (for people with a connection to the village) and improvements to the village hall.

Trusts are able to buy, lease, hold or manage land and buildings (like the village hall) so that these assets are protected permanently for the community. They can influence the position and design of new projects like affordable homes. By charging ground rent to affordable home developers for example a housing association, the Trust’s own running costs can be met.

Unlike parish councils, community trusts have the freedom to apply for charitable grants, team up with partners such as housing associations and seek funds from a pot of money put up by Parliament to help revitalise and sustain rural areas.

Parracombe Community Trust Limited is incorporated as a Community Benefit Society, regulated by the Financial Conduct Authority and governed by strict, legally-binding rules. The society is registered the Financial Conduct Authority and is akin to a Co-operative. No director will be paid, no profits will be distributed and its sole purpose is to work to the benefit of all.