How we saved Mint Lane
October 2019
The centre was owned by Lincoln County Council and our tenancy agreement was up for renewal.
With the future in question, and the possibility of being unable to continue the work that goes on at Mint Lane the notion of purchasing the property as a community was raised and met with much enthusiasm!
December 2019
Involve@Lincoln Ltd is a charitable Community Benefit Society that intends to purchase the centre so that it can become sustainable and secure in its future.
Everyone who has an interest in mental health in Lincoln, who uses the centre or supports its activities could become a shareholder in the ownership of the centre.
People and organisations could invest anything between £50 and £20,000.
This was a unique opportunity to ensure that the centre continues to serve the City of Lincoln sustainably into the future.
We needed to raise at least £70k to go with a package of grants and loans to make up the full amount needed to buy the building and make some much needed repairs and improvements.
April 2020
A total of £62,050 was raised through share applications which triggered a matching purchase of shares by the Community Shares Booster Prohramme, which added £50,000.
This meant that because we met our target, the National Lottery Community Fund made a capital grant of £105,000 toward the cost, and also committed £80,000 toward the development and running costs for the next two years.
To match the price of the building, The Key Fund also offered a blended loan and grant for £56,000. This was provided by Power to Change and the Mercer's company.
We let the County Council know that we were ready to purchase!
September 2020
Contracts were officially exchanged on the 4th of September, making Involve@Lincoln Limited the official owners of 12 Mint Lane!