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02
Aug 2021
Investment plan considered to support housing refugees in Nidderdale
Nidderdale Community Welcome (NCW), is exploring an investment option, as it looks to support a refugee family's re-settlement in the Pateley Bridge area.
The scarcity of suitably-located two and three-bedroom homes available for rental in Nidderdale, has prompted the move.
NCW's treasurer, John Tarrant, told the Stray Ferret:
Mr Tarrant pointed out:
As well as receiving a 2% annual return on their investment, after five years the investors will have the option of selling the property and having monies returned to them.
The investment scheme is separate from the almost £11,000 that has already been raised through donations and pledges.
That money will be used to ensure that the family is established in their new Nidderdale home with part of it used for rental costs.
Before refugee families can come to the this country, where they will have the same rights as UK citizens, they have to go through a detailed vetting process.
The community support group also has to receive approvals from the Home Office and the local authorities.
The United Nations High Commission for Refugees selects a family suitable for the size of house that the community group is able to find.
As the search for a rental property is proving difficult, the investment route may provide a better short and longer-term option.
Mr Tarrant, said:
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One such scheme was successfully launched in the Cambridgeshire town of Godmanchester, where a community welcome group raised £300,000 to buy a house for the family that has re-settled in their area.
NCW is looking to raise a similar amount from up to 20 investors who may wish to invest anything from £5,000 to £45,000.
Mr Tarrant is in liaison with the charity Hope into Action, which has experience of working with community groups within the Community Sponsorship Scheme.
Anybody wanting to know more about the NCW investment scheme is asked to contact: johntarrant@leakhb.plus.com
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