Development trust

From Wikipedia, the free encyclopedia

Development trusts are organisations which operate in the United Kingdom that are:

- community based, owned and led

- engaged in the economic, environmental and social regeneration of a defined area or community

- independent but seek to work in partnership with other private, voluntary and public sector organisations

- self-sufficient or aiming for self sufficiency, and not for private profit.

There is no set form of legal structure, and a development trust may be registered as a company limited by guarantee, a community interest company or an industrial and provident society. Many register as charities.

The activities undertaken by development trusts are various and include:

- running the local shop and post office

- developing play park and recreational facilities

- managing a housing development

- developing renewable energy projects such as wind farms

- setting up training programmes.

They are informed by a belief that community regeneration which is achieved through community owned enterprise is the way to build strong and sustainable communities.

There are over 500 development trusts throughout the UK, co-ordinated by the Development Trusts Association (DTA). The mission of the DTA, which was established in 1993, is “to bring about a successful development trust in every community that wants one”.