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Governance and people

YorSpace is a community benefit society and community land trust. It was created in 2017 to begin a revolution in how housing development and home ownership is viewed and funded. It was born out of a desire to challenge the lack of affordable, environmentally sustainable housing in York, that is truly centered on the needs of the community. It’s ambition is to create truly community-led housing that harnesses funding from the community to improve accessibility to ownership for members of the local community.

The Society

YorSpace is an independent entity owned and controlled by its members. Membership is open to everyone in York and beyond. YorSpace currently has 175 members and is growing steadily. It is a democratic body with every member having a vote and all votes being equal. Share holding does not affect voting rights and remains at one member, one vote regardless of share purchase.

Officers of the society are elected at the Annual General Meetings. All members can stand for election to the Board or apply if the Board seeks to fulfil a specific role. ⅓ of Directors are obliged to stand down at each AGM. As a community led housing developer there are many roles for volunteers and members can easily get in touch through their website to join 'Working Circles'.

Governance

Benefits of being part of this democratic structure include:

  • A vote at General Meetings. All members are entitled to one vote – regardless of how many shares they hold.
  • The right to attend General Meetings at which Board Members are elected.
  • The right to stand for election to the Board.
  • Being kept informed of progress through a Members’ e-newsletter and through other forms of social media. Being consulted on key decisions, and being involved in creating an effective campaign for more community-led, affordable housing in York.

Mutual Home Ownership Society

YorSpace is pioneering a revolutionary new approach to housing development. This approach involves combining community share investment with mutual property ownership, to provide a type of home ownership that is affordable in perpetuity. YorSpace will raise community share funding to purchase land on behalf of the community and retain it under an asset lock for the benefit of the whole community. The land will then be leased to a resident community, via a Mutual Home Ownership Society (MHOS), for the sole purpose of developing environmentally sustainable, low cost, community housing

YorSpace will retain the freehold on the land, while the MHOS will own the properties. The money for the premium will be lent to the MHOS by YorSpace. The repayment of this loan will provide YorSpace with a revenue stream to repay investors capital and interest.

YorSpace capital share funding will be raised to:

  • Purchase land,
  • Complete site pre-development works and
  • Fund the advisor and Clerk of Works role YorSpace will take on during the full site development, on behalf of the resident’s MHOS.

Directors

Directors' remuneration

None of the directors are paid for their role as Directors

Directors' holdings

The directors are all members of the Society.

Conflict of Interest

The rules of YorSpace include provisions relating to potential conflicts of interest; related party activities are disclosed and dealt with according to the rules. 

Employee satisfaction

YorSpace does not currently monitor employee satisfaction

Diversity

The YorSpace board is 40% female (2 out of 5 Directors)

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