The meeting of Broadwindsor Group Parish Council (‘BGPC’) on 13 June 2022 considered the loan application from BADCE towards the purchase of the shop freehold, and there was overwhelming support for the proposal.
The following is the text of a report issued by BGPC after Monday’s meeting:
At last night’s Meeting BADCE asked the Parish Council to consider helping them to acquire loan finance which would allow them to purchase the freehold of the Old Telephone Exchange Building which has become available at a discounted price and thereby help ensure a more sustainable future for the Community Shop.
The Parish Council has access through the Public Woks Loan Board to finance with much lower interest rates than those offered by high-street lenders. The Parish Council successfully accessed a loan of £20,000 in 2018 to help meet a funding shortfall for the Multi-Use Games Area, which has proved to be an invaluable community asset
The proposed loan would be for £50,000 over a thirty year term and all repayments would be funded by BADCE. There would be no increase in the precept, the Parish Council will not incur any additional costs and will be offered security over the freehold property, which has a value materially higher than the £50,000 loan.
The Parish Council will be considering the proposal at its next meeting on 11 July, and we really want to hear from parishioners as to whether they would support tis. Please do leave comments, send an e mail, call or attend our meeting. We look forward to hearing from you.
As indicated above, the Parish Council wants to receive support from parishioners for its proposed loan to BADCE, so all supporters are please asked to confirm support for the loan, by contacting the Clerk, in writing, or by email on hello@broadwindsorgroup.gov.uk.
NB: Please include your address so the Clerk can confirm that you live in the Parish 🙂
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