A massive “THANK YOU!” to all who commented on our Planning Application for our proposed Community Shop and Cafe. The date for comments has now passed, so I’m happy to report that there were a total of 64 responses, all of them positive. This is a fantastic response from the village and I’m sure there are plenty of other supporters who just didn’t get round to it. So now we just have to wait for the outcome of the planning department’s deliberations.Given the support you’ve given it’s hard to see that they will not allow the application.
We’re still working hard to decide on the building supplier, the layout and what we’re going to stock – it’s really exciting to be working in such a committed team.
A major success factor for the project will be the funds we can raise that will dictate the ultimate viability and the size of the operation. Given the current COVID situation we’ve decided to defer our community share issue until things become clearer, hopefully in the spring. In the meantime, though, we need to get an idea as to the enthusiasm of the community to invest in the shop and cafe. We will need a significant amount, expected to be over £200,000 to set up the venture.
We have identified and are following up on some significant funding opportunities, but there will still be a need for us all to contribute if we are to succeed.
To give us an idea of the funds we’re going to be able to raise through the Community Share Issue (that’s where you can buy into a share in the success of the business), we’re planning to run a Pledge Scheme. Through this, we’ll be asking whether you would like to invest in the shop and cafe and if so, how much. No money changes hands at this stage, but we hope to get a firm view as to what we would be able to raise in this way.
The minimum share holding is 10 shares at £10 each, ie £100, up to a maximum of £14,000. We intend to apply for 30% tax relief for the investments, but this can’t be guaranteed at this stage. Each shareholder will have one vote and will be able to be nominated to join the board of the community company.
Please watch out for further details of the Pledge Scheme and please, do what you can to invest in this exciting venture. I can’t believe there will be a better opportunity to set up this much-needed asset to the community.