Ten Acres Lane – Make It So
The Community Shares scheme launched in September is a core plank of the funding we need to raise for our Ten Acres Lane ground development. It is a unique way for a football club to raise capital that means we don’t have to go into debt nor hand the club over to some dodgy businessman. With grant funding and other revenues becoming harder in the economic climate, we need to make the Community Shares Scheme work.
To recap: it will cost us at least £3.5m to build Ten Acres Lane and make it a reality. We are aiming to raise £1.5m of this from Community Shares, the single biggest slice of capital. Alongside this we are raising other money from the City Council and sports grant funders, as well as £500,000 from donations to the Development Fund.
So supporters buying into the Community Shares scheme is vital.
Remember It’s An Investment, Not a Donation
Community Shares are NOT donations. You will be buying withdrawable shares in the football club. Although there is a moratorium of 3 years, after that you can apply to withdraw your shares and get your money back. Also, after 3 years if conditions are right you will receive interest on your shares.
Get Your Application to that Football Ground
To apply for Community Shares you need to go to www.fc-utd.co.uk/Communityshares to download the Offer Document and application form.
Offer documents and application forms will also be available on Sunday at the match and you can drop in your application to the DF stall outside the ground.
Now is the time.
We are expecting to get confirmation in the next week that the share scheme qualifies for the Enterprise Investment Scheme. This will mean that (subject to personal circumstances) you can claim 20% of what you invest back against your tax. So you put £1000 in, you get £200 off your tax in your first year. That will equate to about 6.5% a year each year for the 3 years your investment remains in the club.
Margy Says ‘Make It So’
Karl Marginson this week encouraged all supporters to back the Community Shares Scheme. Speaking exclusively to the Pink he said: "Getting to Ten Acres Lane is vital to this club’s future and we all dream of the day when the team walks out on our own home ground. People need to do whatever they can afford to help us on that way. Get your money in."