Devonport Community LTD
A2 The Society is formed for the benefit of the community. Its objects shall be to carry on for the benefit of the community of Devonport the business of acquiring, holding, developing and leasing land and property for permanently affordable housing and asset based community development and the business of securing the maintenance, improvement and creation of
· amenities for the community; and
· the wellbeing of those who live and work in the community and,
· to enable people to build thriving, inclusive communities through the democratic ownership and stewardship of land and other assets.
The Society shall seek in the delivery of its objects to acquire and retain interests in land and property within the area of the community and to actively manage such ownership to
· retain asset value for the benefit of the community,
· maximise asset value for the benefit of the community, and
· recycle any gains made in dealing with the assets for the benefit of the community.
A3 The Society shall not trade for profit.
A4 Nothing shall be paid or transferred by way of profit nor by distribution of assets to members of the Society.