On Wednesday 16th August, the parish council presented its proposals for the future ownership of The Crown Inn at a well attended meeting in The Community Centre. Those attending were asked to vote on the proposal and the result of this was:
- For – 123
- Against – 1
The council will now continue in its endeavours to obtain funding for the purchase through loans and grants. Further updates will be posted here and in emails to those on our mailing list. If you wish to be added to our mailing list, please use the form on the home page of this site.
An update was presented on October 24th, 2023 in The Community Centre at a meeting attended by 142 people. This presentation provided a recap on the situation as previously presented followed by details of subsequent activity and suggestions for future options to be considered. By a show of hands, the meeting confirmed ongoing support for the initiative.
At the parish council meeting held on November 8th, it was resolved to to seek the approval of the Secretary of State for Levelling Up, Housing and Communities to apply for a PWLB loan of £120K over the borrowing term of 35 years for the buying of The Crown. The annual loan repayments will come to around £7847. It is not intended to increase the parish council tax precept for the purpose of the loan repayments.
A project update was distributed by email on November 9th.
A further update was presented on November 21st in The Community Centre. The presentation included detailed proposals as they have been developed and in anticipation of an application for permission to apply for the PWLB loan. The presentation included details of a proposal to increase the precept – the parish council’s portion of the council tax paid by each household. The meeting concluded with a vote which unanimously supports the parish council’s purchase of The Crown Inn.
Loan Application
As we have previously reported, on 24th November, the Parish Council submitted its application for loan approval. The Public Works Loan Board loan is required to provide the matched funding for our Community Ownership Fund Grant application.
Today (20th December) we have received notification from The Department for Levelling Up, Housing & Communities that borrowing approval has been granted and therefore ‘the Council may borrow an amount not exceeding £120,000’. Our request has been granted in full.
Confirmation of the loan funding is a critical element of our application for the COF grant. We are on track to submit this application in January and will provide further updates as we progress.