How the project is funded
The cost of purchase and repair is £430,000 including fees. The table below shows a breakdown of the various funding sources being blended together to deliver the project.
|Funding Source ||Target ||Status |
|Homes England ||£110,000 ||In Process |
|Community Foundation for Calderdale ||£100,000 ||Confirmed |
|BOOSTER Fund Community Shares ||£50,000 ||Confirmed |
|CVCLT Share Offer ||£170,000 ||In Process |
|Total ||£430,000 || |
The Booster Fund is administered by Coops UK and funded by Architectural Heritage Fund and Power to Change. This fund provides equity investment in community share offers. CVCLT has secured £50,000 of Booster Funds to match community share funds raised for The Fielden Acre project.
The Minimum amount that is needed to raise through community shares is £150,000. This will generate £200,000 when matched by Booster. The Community Foundation loan can increase to £120,000 and can be used to cover any shortfall to the raise.
The Optimum amount that CVCLT aims to raise is £170,000 which, matched with Booster, provides £220,000 and will allow the society to complete the purchase and carry out the necessary repairs.
The Maximum CVCLT aims to raise through this offer is £220,000. When matched with Booster funds this will provide the society with £270,000 of community shares and will reduce the loan requirement from the Community Foundation to £50,000 for this project.