Finance and Project Stages

All projects will have different opportunities to secure finance for their development and implementation. These will depend on the type of assets being developed (housing, workspace, leisure for example) and the community and stakeholders involved (whether there is a sympathetic landowner involved or significant grant funding is available).

But most projects will need to secure funds in three stages:

Stage One: Project Feasibility

To make an initial assessment of feasibility and viability of a project it may be necessary to investigate the site/buildings, work up proposals, approach funders, pay architects and other professionals and fund the community involvement process before any capital finance to implement the project can be secured.

It is often difficult to find finance to undertake this work, particularly up to the level of detail that will be required to demonstrate viability and sustainability of the project convincingly.

However there are some funds available and experience from practice on the ground is that persistence pays off and the solution is often a combination of grants from project stake holders, voluntary activity and pro bono (provided at no charge) work by professionals.

Stage Two: Project Implementation

To bring a project to fruition, capital finance to acquire and develop the asset will be required as well as revenue costs to develop the organisation undertaking the project and manage the assets into the future.

Stage Three: Ongoing Support

Some projects take some time to achieve viability and may require ongoing revenue support via grants or use of reserves to enable them to develop so that they generate a profit.