Community Shares – Investing in our Community
We are inviting investment in our town to help us keep Fielden Hall, its houses and land, a community asset forever.
Community-led efforts can help create and protect the affordable homes and community facilities that we need in our valley and Todmorden.
Please support the purchase of the Fielden Acre.
The Community Shares Standard Mark is awarded by the Community Shares Unit to offers that meet national standards of good practice.
For more information about community shares, the Community Shares Standard Mark and the Community Shares Unit go to:
“This share offer will help keep our heritage and ensures affordable places to live. That’s why I’m delighted to support this investment in our community. ”
HOW YOUR INVESTMENT COULD HELP OUR COMMUNITY
We are inviting investment in our town, investing for social as well as financial return. Help us raise £220,000 in community shares so we can buy the land and buildings surrounding the historic Fielden Hall Community Centre. Invest in our community to create new shoots from old roots.
Fielden Hall COMMUNITY Centre
Through investing in the Fielden Acre community share offer you can help secure the future of our beautiful Fielden Hall as a thriving community centre for all the people of Todmorden. The whole site will be owned and managed by the community, for the community.
By buying the two houses, the Masters House and The Old School House, that bookend the historic Fielden Hall, the CLT will ensure that they stay as affordable housing for the long term. It means we can make sure the whole site stays in community hands as a community resource, preventing unsympathetic development on the land.
FIELDEN ACRE HERITAGE
Pioneering philanthropist and educator Sarah Fielden helped make Todmorden the town it is today when she established a school on the site in 1871. In the 2020s, we are using community shares for a very modern kind of philanthropy, making our contribution to the town’s future.
LAUNCH EVENT REPLAY - Fielden Acre Community Share Offer
In case you missed our live Zoom launch event on 31st October 2020, featuring Kevin Doyle, Catherine Harrington, CEO of the National CLT Network and Councillor Ruth Coleman-Taylor, Mayor of Todmorden, here is the replay.
AFFORDABLE PLACES TO LIVE; SAFEGUARDING OUR HERITAGE
Buying the land around Fielden Hall will mean we can ensure affordable community housing in the two properties that bookend the hall as well as enhance the Hall’s community facilities.
But it’s more than that - Community ownership of the whole plot of land brings us possibilities. We can secure the space around the Hall is around an acre for the community a beautiful and historic building, protect a community future for Fielden Hall itself and maybe better connect the Hall to Centre Vale Park.
How will Fielden Acre Community Shares Work?
The Community Share offer will open on Saturday 31st October, and you will have until the 22nd January 2021 to invest. The minimum you can invest is £250 and the most is £20,000.
The shares will have a target maximum interest of 2% with the first payments made available in early 2023. Interest will only be payable when the Trustees consider the society can afford it.
Find out more about the Fielden Acre Community Shares
WOULD YOU LIKE TO KNOW MORE?
Please let us know by email at email@example.com, and, without obligation, and we will send you a link to the share offer information and any updates on the offer as it progresses.
You could lose some or all of the money you invest in this share offer, without recourse to the Financial Services Compensation Scheme or the Financial Ombudsman Service.
30th November 2020
As a Londoner, I am investing in Fielden Hall because it will provide affordable housing and retain a community centre in a less affluent part of the country. I like the way CLTs are led by and involve the community which will benefit
I'm genuinely excited to be part of an initiative that's building a shared future and making our communities as inclusive as possible. It also makes sense for me as an investor to know that the money I've invested gives me the chance of a small return while helping to make the Calder Valley a better place to live.
I want to invest in affordable housing, particularly low carbon housing. I want my money to be invested in something useful.
It is important to me that my friends and family and remain living in the area where they grew up, it strengthens and binds the community to have this stability. Calder Valley Community Land Trust are putting their time, energy and money into making this happen and if I want this dream then I need to do the same and support them to make my community happen.
Investing in the CLT's fund to buy beautiful, historic Fielden Acre with two affordable homes attached and keep these in the hands of the community seemed like a really good thing to do with money that earnt very little in the bank. I now feel a part of this exciting project.
Social Investment Award winners
Calder Valley CLT were the proud winners of the 2019 Social Investment award from Social Enterprise Yorkshire & Humber for the innovative funding of the six bungalows we developed independent living for people in later life, in Walsden. As part of the financing of these homes we successfully raised £94,000 in community share capital from within our valley.
What are Community Shares?
Community Shares are a way for local communities – and other supporters – to invest in community projects. They cannot be ‘traded’; you cannot sell your shareholding on to someone else. The value of Community Shares cannot increase, but can go down.
Community shares are withdrawable but at no more than their original value. Shares cannot be withdrawn on this offer before early 2024.
This share offer holds the Community Shares Unit Community Shares Standard Mark. This is awarded by the Community Shares Unit (CSU) to offers that meet national standards of good practice. These standards ensure that:
- The offer document and application form are easy to understand
- You are provided with all the facts you need to make an informed decision
- The facts are supported by the annual accounts and/or business plan of the society
- Nothing in the documents is purposefully incorrect, confusing or misleading
Societies are asked to sign a Code of Practice requiring them, among other things, to give the public a right of complaint to the Community Shares Unit.
For more information about community shares, the Community Shares Standard Mark and the Community Shares Unit, go to www.communityshares.org.uk
Statement from CVCLT Board
At the November CVCLT board meeting the trustees reaffirmed the priority it gives to protecting the community share investments that are made in the CVCLT. This is important because community shares are not formally regulated. The board's statement includes the following.
“The Board of Trustees takes its responsibilities towards those individuals and organisations investing in CVCLT through its community share issue extremely seriously. It has launched the current Fielden Acre share issue having satisfied itself that the business plan and share offer document are robust and having received external validation through the Community Share Standard Mark.
The Board confirms its previous decision that these investments will attract 2% pa interest. While the Board is aware that it has the legal power to alter the rate of interest, the Board confirms that it has no current intention of changing the interest being offered in the foreseeable future and that any reduction in interest would not be introduced except in exceptional circumstances and only when the Board had first called a Special General Meeting of members.”