Thanks to everyone who came along to our consultation and update meeting
Thanks to everyone who came along to our consultation and update meeting and to all those who have filled in our consultation questionnaire (170 people to date!!) The support was wonderful with 100 people packed into the hall, even when a fantastic football match from the World Cup clashed with the meeting!
I know many others wished to come to the meeting but couldn't make it and so please check out the full slide show from the evening, which includes our intended business model and plans, survey results, information about our vision. There is also a summary of questions, concerns and suggestions that were raised on the night. We have already had some amazing offers of help, which shows the power of community coming together.
By July 1st 2018, we need an idea of whether we have the financial support from the community to proceed. In order for the council undertake Compulsory Purchase of the pub on our behalf we need to prove we have the will and the financial support in the community to buy, refurbish and run the pub as a community hub.
Our target is £350,000, based on our business plan (we have planned for worse case scenario). We are aiming to raise most of this through people in the community buying shares, in a Community Benefit Society, with a manager running the pub on behalf of the community. That way, we run a pub owned by the community for the community. There is also funding available via grants and loans but the more money we raise in shares the better and the more people will be likely to use the pub!!
We know that not everyone will be able or interested to purchase shares and may prefer to make a donation, or offer help- we are keen to hear from everyone who wants to be involved.
At the moment, the proposed minimum investment for a share is £500. Our reason for arriving at this figure is that we do have to take into account administration costs. However, we do not want to exclude people who want to invest ,so please let us know if you would be interested in investing a lower sum in shares and we will look into this.
Larger pledges are needed as well and would be most welcome.
All pledges will be kept strictly confidential and just an overall total of pledges will be publicised. To help us judge the level of support we have, we would be grateful if you would visit the Pledge page HERE and offer your financial support.
We would like to emphasise that no money changes hands at this stage and this is not a final commitment.If there is sufficient support then full financial details of the business plan and a prospectus will be produced before a final commitment.
WE HAVE A TIGHT DEADLINE, WE NEED TO KNOW BY THE 1STJULY, 2018 AS IF WE DO NOT HAVE ENOUGH SUPPORT WE NEED TO TELL THE COUNCIL WE CANNOT PROCEED.
If you have any queries, please do not hesitate to contact us.
We can do it!! Let’s make our community great!
Michelle (on behalf of SOS committee)