Construction Update
As I am sure you are all aware from visiting the playing field, our construction works are going very well indeed. Even through hard times this year due to the Covid pandemic, we have progressed forward without delay. With rigorous safety planning, early ordering of materials and perseverance we have safely maintained the construction throughout this year.
The only delay we have experienced is in the delivery of roofing tiles due to the Manufacturer being unable to meet current demands, leading to a general shortage of supply and an extended delivery time of 14-16 weeks from the date of the order. The original delivery was scheduled for 12/10 but this has now been extended by a further 6 – 8 weeks. Additional measures have been put in place to protect the roof over the winter months until the roof tiles can be secured.
The internal walls are being fitted now with the building insulation complete and windows now in place, the reality of the Hub building is really starting to take shape.
Finances
In general, the construction finances are looking strong, but the contingency fund has been significantly hit by the increased sewer diversion works and cost of building materials has increased by 5-10% due to the struggling economy.
Loan Repayments
To complete the project finances, we have a Public Works loan (from Parish Council) totalling £50,000.00 to be repaid by Hub @ £917.69 half yearly, commencing 1/11/2020 until 22/05/2069. This was accounted for in the construction costs until the anticipated opening. Due to the risk of the public restrictions from the Covid pandemic, our short term revenue is unknown.
To give us financial security, we are looking for 25 people (ideally taxpayers) who would be willing to set up a Standing Order for a minimum monthly payment of £5 over a fixed period of one (or preferably two) years to help us help maintain our loan repayments.
All contributors would be entitled to a free cup of coffee or tea, for each monthly payment made, at our monthly Hub Cafés when they restart. We will also gift you a personalised Brick as a thank you.
Please get in touch if you would like more information –
Send email to bishopshullhub@gmail.com
or phone 07500 748609
Car Park
The estimated construction cost for the car park is £15,000, based on the lowest tender received from Landscape Somerset, dated November 2019. Revised tenders
will be obtained in January 2021 to give a fixed cost.
We currently have the following funds secured towards the cost:
1. Ringfenced CIL grant – £7,971.00
2. SW&TC Community Chest Grant – £4,700 (awarded 30/10)
Total – £12,671.00 leaving £2,329.00 to secure.
Thanks for reading, we hope to see you around soon.
The Hub Team