|
Start The
trust was formed from a joint initiative between the Norwich Society and
the Norwich City Council. |
ObjectivesTo preserve, restore and maintain within the City of Norwich for the benefit by the nation, buildings of architectural or historic merit.Either individually meritous or as part of the street scene contributing to the general environment of their location. The trust regards itself as a 'restorer of last resort' and takes on commercially non-viable projects, it does not take on projects where there is an individual or a company with the necessary experience and resources willing to do so. |
MeansThe trust is empowered to buy, mortgage, sell and lease land and buildings by borrowing money for this purpose. It has access to grants from English Heritage,the local authority, other charitable bodies, and to low interest short term loans from the Architectural Heritage Fund. It is non-profit making and operates a 'revolving fund' principle whereby it sells on completed projects and uses these capital receipts to fund future projects. This is almost always the case with residential units. Commercial units, however, are normally kept to produce income which enables commercial loans to be funded and helps cover the operating costs of the trust. |
Initial ResourcesInterest-free loans from the Norwich Society matched by the Norwich City Council, who also guarantee an interest-free loan of up to £20,000 on a pound for pound basis with gifts or donations from other sources. Properties owned by Norwich Amenities Preservation Society and entrusted to the Norwich Society were transferred to the trust. |