We* have now made the purchase offer** to David and Margaret, which they have accepted subject to conditions & us achieving confirmation on our funding.
The funding of purchasing the shop relies heavily on a large grant from The National Lottery’s Power to Change Programme (P2C). The rest of the purchase relies on the pledges and social investment loans.
We heard we’re through to round 2 of the grant process, with more information requested from them on the project, which is a very good sign as there is a huge amount of competition to get to this stage!
One of the reasons we have got through to the next round for the P2C grant is the support and pledges received from residents, which indicated strength of feeling about the shop.
At the moment we have had 256 people pledging around £260k and we will continue to accept pledges over the coming weeks.
Very simply, the more we can raise from the village, the smaller the loan we will have to take out to reach the overall purchase price.
If you know of anyone who simply hasn’t got round to it yet please encourage them to pledge now. There are still forms in the shop & will still be very gratefully received.
* Houghton and Wyton Community Shop benefit society
** By the 29th Septmber deadline