How our Community Share Issue will enable us to transform lives in Leeds - James Hartley

Community share issues work like the purchase of shares in a standard company. The investment hopefully generates a small return for the investor (up to 5 per cent for this share issue) whilst your money also does good.

Community shares also entitle shareholders to a vote at our AGM, regardless of how many shares you own, making it a really democratic way to make a difference at a local level. Local communities can also group together to invest.

Our first share issue enabled us to transform six previously derelict houses into homes. Our current issue aims to raise £650,000 and again create six new homes. We have 20 days left to find £100,000 to achieve our minimum target of £450,000. We’ve raised £350,000 so far. If we don’t raise the minimum, we can’t purchase these properties and safeguard the jobs of Latch staff and trainees.

The people we help are right at the bottom end of the income scale and are being particularly hard hit by the rising cost of living. 2023 is the most challenging yet with unaffordable rent increases and soaring high-energy costs. Many are forced to live on the streets or are amongst the ‘hidden homeless’ – sofa surfing or living in tiny, cramped, poor quality accommodation. It’s shocking that around 26,000 people in Leeds have some level of housing need whilst an estimated 4,000 houses are currently empty.

Safe homes are vital but we go well beyond bricks and mortar. Renovations are undertaken by trainees who work alongside Latch staff. It’s part of our initiative to help the long term unemployed - providing them with construction skills to help them into work.

In addition to providing safe homes for our tenants, dedicated support workers help them for as long as they need to get back on their feet. This could be help to recover from trauma, support with addiction or getting them back into education and work. Many of those we help are women and children fleeing domestic violence and we also support resettlement work with Afghan and Syrian refugees.

We’re proud that over the past three decades, we’ve created 107 homes In Leeds and helped almost 600 people to have a positive new start in life. Renovated houses also have wider community benefits, with derelict properties tending to be hubs of antisocial activity.

Funds raised by this new Community Share Issue will also help to secure the jobs of Latch staff. Our team has an astounding 24 years combined experience in delivering home renovations. But the funding picture is challenging and without confidence about where and when our next properties will be developed, providing job security is difficult.

Reaching our fundraising target will give us greater certainty. More properties also means we can change more lives for the better.

James Hartley is the CEO of Latch.