FW: Low Carbon Chilterns Co-operative Share Issue for the Castlefield Community Centre Solar PV

[Mark Brown]

Dear Transition Folk,

 

Please find enclosed a very important update from the Low Carbon Chilterns. Probably our most important news ever! We have launched a Share Issue that will allow Member Investors to put their money into a Solar Roof on a local Community Building in Castlefield.

 

The window for this sort of investment is narrow as both the Tax Relief and Feed-in Tariff seem to be limited time offers. Although genuinely exciting it is also tinged with some disappointment that we might not get another opportunity like this. This really is a good investment.

 

Let me know if you have any questions.

Many thanks,

Mark Brown

Chairman  |  Low Carbon Chilterns Co-operative  |  www.lowcarbonchilterns.org  |  Twitter: @LCChilternsC |  Facebook: LCChilternsC

A member owned & run, not-for-profit, community organisation helping the community to save energy & generate its own clean power.

 

 

From: lowcarbon...@googlegroups.com [mailto:lowcarbon...@googlegroups.com] On Behalf Of Mark Brown
Sent: 07 November 2015 13:30
To: lowcarbon...@googlegroups.com
Subject: Our Share Issue for the Castlefield Community Centre Solar PV

 

Dear Members,

 

Please find enclosed our Prospectus for the Share Issue for Castlefield Community Centre. We plan to install Solar Panels (PV) there this year. Time is short so we need a quick response from Members as to how much they wish to invest. Please email our Treasurer Ian Arnold (ip...@hotmail.co.uk) as soon as you can indicating the size of your investment. The monies need to be collected shortly afterwards for the Shares to be issued on the 20^th November. Payment details on the Prospectus enclosed.

 

The total sum we need from Member Investors is £20,000. Please note that these monies are refundable in case the project cannot proceed.

 

Timeline:

 

1.    17^th November – Wycombe District Council formalise the decision to hand over the Freehold of the Castlefield Community Centre to the Karima Foundation.

2.    15^th December at the latest – the utility company SSE grants Grid Connection authority. At this point we will pay a deposit for the panels.

3.    31^st December at the latest – panels installed and commissioned

 

All this will be possible with your help!

 

We also have spreadsheets detailing the payback on this investment year-on-year for anyone who is interested in seeing these details. Let us know and we can send these on to you.

 

We look forward to hearing from you!!

Many thanks,

Mark Brown

Chairman  |  Low Carbon Chilterns Co-operative  |  www.lowcarbonchilterns.org  |  Twitter: @LCChilternsC |  Facebook: LCChilternsC

A member owned & run, not-for-profit, community organisation helping the community to save energy & generate its own clean power.

 

 

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[Kim Cheetham]

Dear Mark

 

I think that your idea is really interesting, and I’m minded to apply for some shares.

 

I may be a bit dim, but I don’t fully understand the relationship with the owner of the Castlefield community centre.  How certain are we that the centre will not be sold to somebody else?  Could the council decide that the community centre is a bad idea, and they want to change its use?  In the event of these possibilities do we have any agreement with the council as to what would happen to the solar panels?  We do need a structural assessment of the building before putting up panels.

 

I remain very interested in the whole idea which has my support.

 

With best wishes

 

Kim Cheetham

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[Mark Brown]

Kim & Folk,

 

These are all good questions and, to be fair, they apply to all similar arrangements across Community Energy schemes in the UK. So there is nothing new here. Rest assured these matters are subject to legal contract and you certainly have the right to ask good questions!

 

The Karima Foundation take over the Freehold of the Castlefield Community Centre this month although WDC still insist that they grant a Licence for the Solar install. In the event of the building transferring to ANY other third party then the Panels still belong to the Investor Members of the LCCC. We are leasing the roof space to put the panels on. That lease is for the full term of the investment. Whoever takes up ownership will continue the Lease or purchase the panels from the LCCC.

 

It doesn’t matter what use the Centre is put to as we are only concerned with the roof space facing the sky. Of course if someone decides to demolish the bulidning within 20 years then, again, they have to purchase the panels from us in order to do this.

 

The structural assessment has been done and the WDC has granted a licence to install based upon the assessment.

 

If you have any further questions please let us know. We would welcome your investment. It really is a good one.

Many thanks,

Mark Brown

Chairman  |  Low Carbon Chilterns Co-operative  |  www.lowcarbonchilterns.org  |  Twitter: @LCChilternsC |  Facebook: LCChilternsC

A member owned & run, not-for-profit, community organisation helping the community to save energy & generate its own clean power.

 

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[Kim Cheetham]

Thank you Mark.  Really promising.

 

  If the building is sold, or there is a change of use prohibiting the use of solar  panels, I understand that the co-operative will get back the value of the panels.  Will this be written to the contract with the owners of the building, and will the re-imbursement be at cost price, or at the value of second hand panels panels which have to be taken down and used elsewhere?

 

With best wishes

 

Kim

From: Mark Brown

Sent: Monday, November 09, 2015 8:20 AM

To: tt...@googlegroups.com

Subject: RE: [tthw] FW: Low Carbon Chilterns Co-operative Share Issue for the Castlefield Community Centre Solar PV

 

[Mark Brown]

Kim & Folks,

 

Quite detailed questions. Tell you what I will do I will send you the draft of the Heads of Terms and Roof Lease draft on a separate email. I will also copy your query to LCCC Secretary Bob Hall who can answer your queries.

[Kim Cheetham]

Thanks Mark.

 

If you are already oversubscribed, I don’t think that you need to answer my questions unless they are of general interest.  Thank you for the trouble that you have taken

 

Congratulations on a successful launch.

 

If it turns out that your correspondents who have not paid change their minds, I would be pleased to be involved.

 

Kim

[Mark Brown]

Folks,

 

Please note that although technically over-subscribed the LCCC is still inviting smaller investors to commit funds to the Castlefield Solar Roof. We can do this because we are able to allocate the shares in an equitable way to spread the investment over more people.

 

So if you do wany to chip in a little then please let us know TODAY. It is the last day.

 

Fingers crossed – we might get to do this again next year.

Many thanks,

Mark Brown

Chairman  |  Low Carbon Chilterns Co-operative  |  www.lowcarbonchilterns.org  |  Twitter: @LCChilternsC |  Facebook: LCChilternsC

A member owned & run, not-for-profit, community organisation helping the community to save energy & generate its own clean power.