Time running out for community to invest in unique share scheme

WITH JUST a few weeks to go, a pioneering community share scheme offering people the chance to invest in a famous Yorkshire neighbourhood has reached more than £351,000 – nearly three quarters of its target.

Organisers at Headingley Development Trust (HDT) in Leeds have praised the “power of people” who have so far pledged cash for its crowdfunding bid, which is believed to be the first of its kind in the UK.

The money will fund projects to improve Headingley for the community as well as offering investors a two per cent return on their money – more than most banks and building societies.

The trust’s chairwoman Helen Seymour said: “It’s been exciting and humbling to see how people are prepared to put in their own money to help make Headingley a better place for us all. To be over two thirds towards our admittedly quite ambitious target of £480,000 is fantastic. It just shows the power of people working together.”

The trust plans on using the investment to refinance its flagship enterprise and arts centre, HEART, which, while profitable, is burdened by repayments on its original loan.

Money will also be invested in bringing empty buildings back into use as well as looking at housing options to help longterm residents.

An initial deadline of the end of April has been extended for a few weeks and Ms Seymour says she remains hopeful that the target will be reached.

A drop-in information session will be held on Saturday May 5 at HEART, in Bennett Road, from 10am to 11am. Visit www.ethex. org.uk/HeadingleyDT.