Heritage Enterprise

Butcher Works, Sheffield For projects that seek to achieve economic growth Aimed at enterprising community organisations Bridging the funding gap / addressing market failure Commercial / social enterprise partnerships Grants from £100,000 - £5million

Heritage Enterprise – who we fund Not-for-profit organisations Partnerships led by not-for-profit organisations Key aim is the integration of commercial and community interests Private sector for-profit encouraged to be involved but as minority partners Special purpose vehicles and joint ventures Building Preservation Trusts, social enterprises, Community Interest Companies etc Local authorities, other public sector organisations also eligible

Involvement of private for-profit sector Development partner Occupier Freehold owner Sowerby Bridge Wharf

What we fund - priorities End-use that generates a commercial income Heritage assets “at risk” Designated heritage assets Economically disadvantaged areas Skills opportunities Increased learning about heritage NB Public access not a requirement Adams Building, Nottingham

What we fund Purchase of a heritage asset Conservation work New work to bring vacant buildings/sites back into commercial use Training Activities during project delivery Professional fees Specialist research Project staff

Capital work during development phase Urgent repairs during development phase Temporary structures to facilitate “meanwhile uses” Costs should amount to no more than 10% of total delivery request Pop-up shops, Shoreditch

Heritage Enterprise - outcomes Outcomes for heritage: better managed in better condition (Weighted) Outcomes for people: developed skills (Weighted) learnt about heritage Outcomes for communities: environmental impacts will be reduced your local area/community will be a better place to live, work or visit your local economy will be boosted (Weighted)

Conservation deficit Heritage Enterprise designed to help bridge the funding gap The case for funding depends on there being a conservation deficit No conservation deficit = no grant Outline information about conservation deficit at first- round indicated in Viability Appraisal Detailed information about conservation deficit at second- round indicated in Development Appraisal Grant restricted to 90/95% of conservation deficit, plus costs of activities, plus costs of maintenance (for 5 years)

Developers’ Return Developers’ profit allowed to encourage investment Added as a development cost within the development appraisal Amount of profit depends on: –Degree of risk –Nature of development –Stability of market ROSS mentor will negotiate profit and advise HLF Profit capped at 15% of capital construction costs Allowance of profit for all project partners, whether private or not-for-profit

Activity statement Activity Statement required with second-round application, not a Plan Mandatory requirement for skills training, e.g. –Traditional building skills –Retrofitting –Building maintenance –Planning and guiding tours, IT skills etc Activities required during capital works, e.g. –Tours –Exhibitions, oral history project etc –Temporary interpretation, viewing platforms etc Digital interpretation, e.g. –Website –Smartphone app

Terms of grant Standard terms of grant last for 10 years from project completion, even where property acquisition is involved If asset is sold within contract life, repayment may be required Repayment based on higher figure of value of the sale or the value of grant Fixed sliding scale for repayments that declines over time Terms of grant likely to be contentious

Start Up Grants Grants of £3,000 to £10,000 For new groups looking after or engaging people with heritage For existing groups taking on responsibility for heritage for the first time Established organisations can apply on behalf of a new group

What next? 1.Read through the Heritage Enterprise guidance notes on our website 2.Register and submit a project enquiry 3.The Development Team will be in touch to offer advice before you apply

Useful Contacts Social Enterprise East Midlands (SEEM) – Low interest loans - Locality – Charity Bank – Low interest loans Architectural Heritage Fund – Grants for viability studies and low interest loans