Ian Rice Presentation Notes


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Ian Rice Presentation Notes

  1. 1. Ian Rice – Architectural Heritage Fund – notesRestoring ‘problem’ buildings and innovative solutionsGlossaryAHF - Architectural Heritage FundBPT - Building Preservation TrustEH - English HeritageHLF - Heritage Lottery FundBARR - Buildings at risk registerFFHB - Funds for Historic Buildings (www.ffhb.org.uk)GOWI - Get on with it…ThemesProblem buildingsRedundant buildings beyond a market solutionRole of Building Preservation Trusts (‘BPTs’)Innovative solutionsFinance – development and project fundingAssembling a funding packageDifficult times – or a period of opportunity?The AHFAim: To bring redundant buildings back into viable re-use • Buildings at risk • Little or no market value: ‘conservation deficit’ (i.e. the difference between the commercial value of the building and the cost of restoration) • Small grants for project development • Low-interest loans for working capital or acquisition • Advice & support, advocacy & educationDefinition of a Building Preservation Trust (‘BPT’) • An independent charity • Charitable objects: must include preservation of a building or buildings of historic, architectural or constructional interest • Powers: to buy, sell, charge property and borrow money • Optional: Company limited by guarantee • Trustees/ members/ supporters/ paid staff • ‘A developer of last resort’ • Most trusts in UK run by volunteersValue of BPTs in sourcing finance • Charitable (see funders’ eligibility requirements) • Specialised • Low overheads • Not set up to make a profit • Can overcome ‘conservation deficit’ (i.e. the difference between the commercial value of the building and the cost of restoration)
  2. 2. ‘Problem’ buildingsRestoring a building at riskUnlikely to be straightforwardBeyond the reach of the marketToo large/ small/ redundant/ poor condition/ bad locationBut many successful projects achieved, often by unusual meansCase studies:Heritage of LondonTrust Operations (HoLT-OP) • Locomotive Waterpoint • Grade II listed • Project cost £898K (2005) • AHF development funding: £12,600; loan £150,000 • Leased to British Waterways as reception/ exhibition area & viewing platformBenington Community Heritage TrustAll Saints Church, Benington, LincsRenewable Heritage TrustHowsham MillCadw Sir Gaerfryddin CyfWhitford Lighthouse, Gower Peninsula
  3. 3. Whitford Lighthouse, Gower Peninsula • Grade II* listed • Offered to trust for £1 • AHF funding £9,515 • Options appraisal study found that project is viable • Proposed project cost: £566,730 • 30 project funders identified • Projected use: holiday accommodation •End use optionsTie in with funders’ requirements: • Appropriate • Attractive • Fundable from multiple sources • Identify potential end users • Potential partnerships • Community supportFunding solutionsExisting funders under pressure
  4. 4. Funding package may be difficult to assembleInnovative solutions may be requiredDevelopment funding can help ‘buy in’ expertiseSome funders may be under-subscribedNeed to match project with funder’s aims or expectationsAHF FundingOptions Appraisal Grants • Allows non-specialists to buy in professional expertise • Demonstrates viability of the preferred scheme • up to £10,000 availableProject Development Grants • Project organiser (up to £15,000) • Professional fees (business planning, RIBA Stage J) (£7,500) • Admin expenses (£1,000) • Post- options appraisal support (£5,000) • Mentoring (up to 10 days)Low-interest loans for working capitalOther ‘usual suspects’ funding • English Heritage/ Historic Scotland/ Cadw/ NI Environment Agency • Heritage Lottery Fund (inc. THI schemes) • European Regional Development Fund • Local Authority (inc. Section 106) • Local Enterprise Partnership (replacing Regional Development Agency) • Independent charities (e.g. Garfield Weston Foundation, Manifold Trust) • Landfill Tax Credit scheme • AHF low-interest loan (for working capital or acquisition) • Other lenders – Charity Bank, Unity Trust Bank, Ecology Building Society • ‘Funds for Historic Buildings’ website: www.ffhb.org.ukHeritage Lottery Fund • Established over 16 years ago • £1 billion available for heritage projects over the next five years (2010-11: £205M; 2011-12: £255M; 2012-13 anticipated £300M) • Application procedures simplified 2008 • Will now offer up to 90% match funding • Funding for many BPT projects • Townscape Heritage Initiative areas (extra £11M available 2011-12) • Increased takeup despite recessionAlternative sources of funding:Training opportunitiesJob creation (finished project)SponsorshipPhilanthropySale proceedsMortgage against letting or other incomeOffset against other income generationLocal or project-specific donors/ sponsors
  5. 5. Tie-in with local or central government objectivesCase study:Richmondshire Building Preservation TrustRichmond StationGrade II* listedAHF development funding £25,125AHF loan £700,000Project cost: £2,75M (2008)Community/ commercial uses: cinema, brewery, honey & ice cream manufacture,restaurant, meeting spaces & conference facilitieswww.richmondstation.comPoltimore House Trust • Grade II* listed • AHF development funding £27,500 • EH grant offer £500,000 • University of Exeter graduate placement schemeNew initiatives‘Cold spots’ • Funded by J. Paul Getty Charitable Trust & Pilgrim Trust • 3-year pilot programme • To stimulate activity in under-represented areas • East Midlands • South Wales • Industrial Buildings (EH Heritage at Risk campaign, 2011) • Explore new partnerships & clients‘Challenge Fund’ • Funded by Andrew Lloyd Webber Foundation & EH • Each organisation will contribute £1M • 5-year programme 2011-16 • Grade I or II* buildings, on EH BARR • Maximum grant £200K, although most will be far less • Available to BPTs or other independent charitiesThe Architectural Heritage FundAlhambra House27-31 Charing Cross RoadLondon WC2H 0AUTel: 020 7925 0199www.ahfund.org.uk www.ffhb.org.ukian.rice@ahfund.org.uk