Does your community need new housing for sale or rent? Maybe improved sports facilities? A local renewable energy scheme? Workspace? Schemes that need financial assistance but would still belong to the community?
The Diverse Regeneration Company (DR) based in Okehampton, is working with Resonance Community Developers on a social impact fund designed to help communities meet local needs. The fund helps communities create and own income-generating assets, such as affordable homes, sports facilities or renewable energy.
The Fund has already started investing in community projects across three initial areas: Cornwall, Gloucestershire and the North West. The DR company are now looking for communities across Devon to get in touch, so Devon based communities can also benefit from funding to help with pre-development feasibility, land acquisition and construction costs.
The fund has been created and managed by Resonance Limited who are an experienced social impact firm, accredited B-Corp and social enterprise and has been supporting the community-led sector since 2002. Its vision is a world where capital serves people and communities; all are empowered to invest in enterprise for positive social impact; and resources are stewarded for future generations.
Two previous similar funding schemes demonstrated that community assets can be successfully refinanced and attract community share capital. Many of the communities who invested through these two initiatives have since gone on to initiate further community projects.
If you would like more information on how Resonance Community Developer could benefit your local community projects, please get in touch with Sophie Price at DR via email: [email protected] or for more information visit: www.drcompany.co.uk or www.resonance.ltd.uk