Holacracy Community of Practice Archive, 2015-2019 Community Holacracy Web Site

It is on the basis that it is not something owned by the organization. 

I can see how the phrasing of that sentence could imply that time is a resource, however, I believe that is unintended.

If you look throughout the rest of the constitution, the reference is usually to "attention or resources" or "attention and resources", with attention defined in 1.2.5 as "time available to act".