For many people, this is the most daunting aspect of the scheme. So how much are we talking about and how do we plan to raise it?
Chaco has a viable business plan for developing the site, and this has already enabled us to attract funding for planning and feasibility work.
We have successfully raised over £4 million for the development phase. Much of this is being funded from the sale of members’ homes and our existing co-op properties, and a long-term mortgage. But we are also offering individuals and organisations the chance to support this project through investing in a loanstock fund. We are looking for people who will invest money for at least three years and we are offering interest rates up to 3%.
If you’d like to join the growing number of people willing to support us in this way, find out how on our Loanstock page.