We would like to offer you an update on our central project – the Old Vicarage Flats.
The photos above show you the stage we have reached so far, with a good quantity of the preparation work completed.
As you may be aware, the CLT was successful in its application for £750,000 of St Ives Town Deal funding from the central government for the Old Vicarage Flats project, and the execution of this funding agreement has now been transferred to Cornwall Council, who have issued the CLT with a contract setting out the terms of the funding.
However, after taking advice, the Board of Trustees is in unanimous agreement that the contract in its present form cannot be signed for various reasons, meaning we cannot yet draw down on the grant. These reasons include a demand from Cornwall Council to have a 25-year legal charge over the building, the insertion of clauses which we have not been party to the wording of, and the time for delivery, there are also other restrictions which we argue do not take into account the nature of this renovation project or our constitution as a small volunteer-led, community financed, asset locked organisation. We need to sign a funding agreement that can facilitate the delivery of this project in a way that is financially responsible and sustainable.
St Ives MP, Derek Thomas, has supported us and is of the opinion the terms not the agreement do not reflect the spirit of Town Deal funding aspirations.
Recently we were pleased to receive new paperwork from Cornwall Council which is under consideration.
Meanwhile running costs of the building; mortgage payments, insurance, electricity, and legal bills continue to need payment. Your donations are more important than ever to help us achieve our aims.
We remain positive the Old Vicarage Flats project will get back on track and be completed.