We are pleased to confirm that a substantial investment has been promised to help the project achieve its £400,000 optimum target. This investment is subject to some conditions, one of which is for the community to raise £250,000 in pledges.
Other conditions relate to ensuring the existing clubs use of the playing fields is not adversely impacted by the use of the new building, and having this included in an agreement between ourselves and the trustees managing the playing fields. The Development committee have confirmed their agreement to that.
Pledges received total £ 115,175 so we have some way to go but there are well over 2,000 other people, organisations and businesses in the village who could pledge. If just half pledged £100 it would raise a further £ 100,000. It is in the community‘s hands to make this happen.
There has been some confusion over the pledges. Money invested in Community shares are not a donation. Effectively they are a long-term loan with 30% income tax relief (shares must be retained for at least three years) with the full amount to be repaid, a significant return of over 40 per cent.