We are gearing up to submitting a bid to City of York Council to purchase Oliver House and the surrounding site in order to create 12-14 affordable homes with community infrastructure.
In order for us to make this happen we need investment from the wider community as our plans to purchase and redevelop the site will cost £1.7million.
We need to raise £450,000 in order to access the finance we need to make this happen.
We intend to offer bonds in our not for profit company in order to bridge our funding gap.
There are two types of bonds that we are looking to offer and these are:
- 5 years bonds at up to 2% APR
- 10 year bonds at up to 3% APR
If this investment is of interest to you please get in touch by email and indicate the level of finance you can pledge. We are looking for minimum pledges of £1000.
You will not need to transfer any funds until after the sale has been agreed between YorSpace and City of York Council.
We will provide full details of the finance package and the terms and conditions before any receipt of money takes place.
The deadline to submit the tender to the Council is the 30th January 2015 so please get in touch quickly.
We look forward to hearing from you via our support and pledge page!