Ricardo Community Foundation
The Ricardo Community Foundation (Charity no. 1171269) will take over the freehold of the site in trust when Linden Homes leave St Clements. It will collect Ground Rent from residents and spend this in accordance with the Foundation’s stated aims and remit.
Originally the Greater London Authority (GLA) owned the site and was the freeholder. This passed to Linden Homes (who were selected as the GLA’s development partner in October 2012 to deliver the redevelopment of St Clements), and will then pass to be held in trust by the Ricardo Community Foundation.
The Foundation will be made up of members including the GLA, the London Borough of Tower Hamlets Council (Councillor Val Whitehead of Bow West representing), Peabody, London Community Land Trust, St Clements Site Management Limited, and Linden (until such time as they complete their works on the site and leave).