D
Development Funding
Heritage Lottery Fund
The heritage lottery fund is a viable way to secure funding for our project as they support projects like ours which are community-led and lead by none for-profit organizations. The funding we would be looking to acquire from them will help to restore the facade on both the Millenium Mills and Silo D building whilst also making updates to comply with current design codes.
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This funding scheme offers reasonable sums of money as it is a grant rather than a loan, we will be applying to try and get the most money possible which is up to £5 million our project should be developed in 2 years and delivered on in under 5 years qualifying us for the amount.
Community Land Trust
Community land trusts now have access to a £3bnn pool of money to stimulate growth in their local area, a development can take up to £250mil for a 5 year period with standard commercial interest rates. These funds are beneficial for creating more affordable housing for CLT.
We would look to borrow the whole £250mil to fund the development in order to best achieve our vision and meet our objectives, the money from this fund would towards the development of the housing, affordable housing as well as any public realm development for the site.
Local Enterprise Partnership for London
The local enterprise partnerships for London is a new regeneration program to promote good and sustainable growth across London, it has a pool of £70million for developments in order to support community development in London which is exactly what we are trying to promote. This fund is given to projects like ours which are trying to tackle many of the problems been across a lot of developments across many of London boroughs.
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We would use the acquired funds to develop the commercial areas around the mills building where small businesses such as coffee shops will be located. Any leftover funds will go towards the works needed for Silo D.
Further Funding
There would be an injection of £314mil from the enterprise zone this would be enough money to develop the various aspects of the site sufficiently.
Enterprise Zone
To develop the commercial area of the development we would rely on in investment from TNC's looking to locate their businesses in this area. We would also look to recoup some of the funds through CIL, this will help to pay for the necessary roads and paths through the site as well as the numerous bridges connecting the water area of the site.
Private Investment