Why is it important?
Funding is not only vital in meeting the cost of the development, but also crucially, to enable the delivery of housing and other buildings that are truly affordable and sustainable.
To achieve this access to grants and loans and other forms of subsidy – such as free or cheap land or buildings, will be vital ingredients.
Setting up and running the organisation, feasibility studies and other pre development costs will also require funding.
You will need to work out how to fund the initial set up and organisation costs and to do this you will have to identify which professional services you may require.
You will need to review what development funding options are available and look at who will fund the pre planning concept development work.
You may also want to look at what financial or ‘in kind’ support partner organisations could provide and how you can ensure that rents and purchase prices are affordable for local people once your homes are built.
Keeping your money in check
As well as providing you with general advice and support, we can help source funding for set up, operation and development and obtain initial pro bono professional support.
We can also negotiate affordable rents and ground rents, develop budgeting and financial planning, manage service charges and sinking funds and assist you with procuring and competitive bidding.
Eastern Community Homes has produced a Funding Guide for community led housing groups, with funds available both nationally and locally. This offers guidance on funding that may be accessible to groups at various stages of their community led housing journey. Download the guide.