Chelveston Renewable Energy Community Benefit Fund
As one of the conditions for achieving planning consent for the Chelveston Wind Farm, its owners have signed an agreement called a Section 106 agreement agreeing to pay £25,650 per annum into a trust to be used for the benefit of the four parishes affected, namely Chelveston-cum-Caldecott, Hargrave, Melchbourne & Yelden and Dean & Shelton. The payments are due to begin in the first quarter of 2014 and to continue annually for the life of the wind farm, expected to be about twenty years.
The trust is not accountable to Dean and Shelton Parish Council, but we have the right to appoint two trustees from the parish out of the total of eight (two for each parish).
The trust is tasked to ensure that, over time, each of the four parishes receives an equal share of the trust’s capital and income. However, this does not mean that each parish will receive 25% of this each and every year. This is to give the trustees some flexibility in spending the money wisely. For example, if one year one parish comes up with a project that costs more than its quarter share, and another parish puts forward nothing for the same year, it makes sense for the first parish to receive the full amount in one go, rather than having to wait while the other parish sits on unused cash. However, over time, it is clear that Dean andSheltonis supposed to receive its full 25% so long as it comes up with suitable projects.
If the parish council decides that the parish is not being treated fairly by the trust, there is a break clause every five years enabling the trust to be broken up so that Dean & Shelton can manage its own share independently. We consider this unlikely, but this provides us with a safety net in the event of unfair treatment.
To see the Criteria and Procedure for Appointing Trustees click HERE
To see the latest draft of the Trust Deed please click HERE
Please follow this link to the Trust's website www.windfarmtrust.chelveston.org.uk