The Memorial Hall Trust has undergone some fundamental changes in recent months with the appointment of new Trustees and an AGM in December 2016. The Trustees provided a helpful and informative update in last month’s (January 2017) Nutfield Link, and took the opportunity to thank the Parish Council, amongst others, for its contribution to the Hall’s rebuild.
Following enquiries from parishioners to establish how much NPC contributed to the re-building of the Memorial Hall, we offer the following information to clarify our actual contribution. This covers the period of the rebuilding work, which took place between the years 2013 to 2015.
NPC records show that during that period the Council provided £112,049 of funding. This includes a loan obtained from the Public Works Loan Board (PWLB) of £50,000. This loan remains a liability for NPC until 2040.
The Council’s total contribution by 2040 to the Memorial Hall will amount to £131,748. NPC has also agreed to continue the insurance of the Memorial Hall under the Council’s policy until its renewal in a couple of months.
We note in the Trust’s news article last month in the Nutfield Link, both volunteers and Councillors at the time, felt that without the financial contribution made by NPC, which covered the significant shortfall in funding, the hall could not have been completed.
Under the terms of the funding given by NPC, none of the money is re-payable, and the Council do not own or have any financial interest in the Memorial Hall.