Futurebuilders’ first completed building – new children’s centre in Derby (11/04/2006)
27.04.2006
A new children’s centre in Derby is the first building to be completed using funds from Futurebuilders England, the government-backed finance scheme for the voluntary sector. The purpose-built premises run by Derwent Stepping Stones, houses a day-care centre for 120 children, a family support centre and a training centre for adults. The project was financed with an investment package of £450,000 from Futurebuilders that included grants of £50,000, a loan of £200,000 and a bank guarantee of £200,000. Derwent will pay the money back using revenue earned through their many contracts with the public sector, including the local authority and primary care trust.
Richard Gutch, Futurebuilders chief executive said, “This is the first of a number of new buildings that Futurebuilders is financing. Its completion is a huge milestone in our mission to help the voluntary sector improve public services. It shows that with the right financial backing community-based groups, who understand and are committed to the needs of local people, can provide first rate facilities for both children and adults. As a result children will get the best possible start in life and parents will be able to return to employment”
Janet Anderson, Manager of Derwent Stepping stones said,
“The Futurebuilders money means we can support more families in the area. It means children can be cared for in an excellent space which they absolutely love while their parents learn skills that will help them to get jobs. We would never have got a commercial lender to finance the project because we had no security. Futurebuilders was able to give us an unsecured loan so the money was there when we needed to pay builders as the building progressed.”
Derwent Stepping Stones is one of 116 voluntary sector expansion projects to have benefited from Futurebuilders finance. The fund offers a mixture of grants and loans to voluntary groups planning to deliver public services. So far it has approved investments of over £39 million in projects in the following areas: working with children and young people, education and learning, health and social care, community cohesion and crime prevention. Futurebuilders will be open for more applications from May 2006. To find out more see the website: www.futurebuilders-england.org.uk
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Notes to editors
1. For more information please call Alice Grahame at Futurebuilders England on 020 7680 7890 or email [email protected]
2. Derwent Stepping Stones nursery and community training centre is a registered charity and voluntary project based in the Derwent area of the city of Derby. Our aim is to remove barriers to community empowerment and engagement, to include childcare, learning and additional support. They can be contacted on 01332 372245
3. Futurebuilders England is the government-backed £125 million finance scheme for the voluntary and community sector .