Money

Getting real

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.

Originally, we thought we might save ourselves some money by refurbishing this building and moving in – until we discovered it would cost us a lot more than starting from scratch.