Affordable Housing Trust

"We are working every day to deliver on our Council's affordable housing vision."

Darren Fuzzard, Mount Alexander Shire Council CEO.

The federal government recently announced a coordinated nationwide approach to delivering more secure and affordable housing. This is a good start and will bring relief in the medium to longer-term.

The community has asked Council to do better than this, and encouraged us to look for localised solutions that consider local resources and community input.

As a result we are proposing to establish an independent housing trust.

Extensive research indicates key features of the Mount Alexander Affordable Housing Trust (MAAHT) should be:

Dedicated: Tax free donations of funds and land are held in the trust for the sole purpose of providing more affordable housing in Mount Alexander Shire.
Inclusive: The Trust can respond to the wide range of affordable housing needs in our community.
Flexible: Provides capacity to partner with any type of housing delivery which does not rely on capital growth of land value.
Independent: The Mount Alexander Affordable Housing Trust will be an autonomous organisation in our community which can provide and advocate for affordable housing.
Community-led: Anyone (including Council) can invest in and contribute to ongoing and lasting affordable housing solutions. Community participation and leadership will be central to the Trust’s development and success.

In the draft Budget Council has proposed a commitment of $500,000, because we believe the Trust could make a long-lasting and positive difference.

If Council endorses establishment of the MAAHT, we will consult widely with the community on how to best manage and develop the exciting opportunity.

We anticipate the 2024-2025 draft Budget and the Trust Deed will be considered for adoption in the June Council Meeting.

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FAQ

A charitable trust is a type of trust established to hold assets for charitable purposes.

Charitable trusts are established under the “advancement of social or public welfare.”

As a charitable trust, the Trust is exempt from income tax. In addition, any assets donated are exempt from income tax.

In this case what goes in to the Trust belongs to the Mount Alexander shire community for the sole purpose of responding to the affordable housing needs of the local community.

A Trust will allow:

Development of local solutions with local resources
The community to be part of creating and managing solutions
Ongoing and lasting solutions that the whole community are invested in
An independent charitable organisation in our community that is solely focused on addressing local affordable housing needs

It is a good option for Mount Alexander Shire because:

Our community cares, wants to take-action, and is generous
We can’t control when and how we might receive any government funding, but we can control how we raise the funds as a community
The Trust will consider housing needs for all members of the community. The funding is not tied to specific demographics (for example, older people, or families experiencing violence) and the community can have a say on how funding is used.

If the Trust Deed is adopted, the Mount Alexander Affordable Housing Trust will be established by a legal deed that:

Is developed with specialist legal advice
Is independent from Council and Council business
Charges a Trustee to manage the trust in line with the intentions of the trust.

Council would appoint a Trustee to manage the Trust.

A Trustee is a legally capable custodian that manages the Trust on behalf of the community.

Council would appoint an Advisory Committee to the Trust through a public expression of interest process.

The Advisory Committee would play a central role in successful establishment of the Trust. They would work with Council to select and appoint a Trustee to manage the Trust.

Council has invested in the foundational work to get the Trust ready to establish.

Community involvement is critical to successfully establish and fundraise for the Trust.

At this stage we anticipate we'll especially need community support to:

Spread the word
Recruit Advisory Committee members
Support the Advisory Committee in its fundraising efforts
Contribute land or funds to the Trust.

Key milestones

Timeline item 1 - complete

Review of affordable housing solutions

2021 - 2022
Timeline item 2 - active

Draft budget released - includes suggested Council contribution to Trust

April 2024
Timeline item 3 - incomplete

Council considers adoption of Trust Deed

June 2024
Timeline item 4 - incomplete

*All stages below are dependent on adoption
Timeline item 5 - incomplete

Community engagement

June - August 2024
Timeline item 6 - incomplete

Advisory Committee appointed

August 2024 onwards
Timeline item 7 - incomplete

Fundraising

August 2024 onwards
Timeline item 8 - incomplete

Trust established

To be confirmed - timing dependent on level of funds raised

"We are working every day to deliver on our Council's affordable housing vision."

Darren Fuzzard, Mount Alexander Shire Council CEO.

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