Finance Group
Funding options
The initial work, undertaken by TAHG, included the securing of a grant from MDDC for £2,500 to cover the preliminary stages of the Affordable Housing project. As soon as the Finance Group was established they set about applying for further funding of £10,000+ which should cover topographical and infrastructure surveys, feasibility studies, along with website and consultancy costs.
A feasibility study should give a clearer view as to overall costs, and help with the creation of a Business Plan. It is hard to estimate the final figure for such a project, but a reasonable estimate at this stage would be £4.5m – £5.0m.
The Finance Group are still in the fact finding stage, looking into all options, such as:
- Grants from Homes England
- Loans from MDDC
- Charity Bank or mainstream Banks
- Partnering with a Housing Association
- Community Shares
- Specialised Financiers
More information will be published on this website as soon as it becomes available.