p roposals to restore the st ives corn exchange

Proposals to restore the St Ives Corn Exchange

Presentation to St Ives Town Council St Ives Free Church

Wednesday 2 May, 2007

Introduction

Key Issues

• Is there a need for a community building in St Ives town centre ?

• Is the Corn Exchange the solution ?

• What is the way forward ?

Does St Ives need the Corn Exchange

?

Demographic Changes

Potential Users

• St Ives Youth Theatre

• St Ivo School

• Dance and Music Groups

• Other Performing Arts

Potential Users

• Markets

• Exhibitions and Workshops

• Talks

• Meetings of local Groups

Benefits to St Ives

St Ives Youth Theatre

Costs and Sources of Funding

Typical Community Hall Costs (sample size =84)

0

250

500

750

1000

1250

1500

1750

2000

2250

1 25 50 75 100

% Buildings

Co

st:

£/m

2

ACE Cost

DL Cost Range

Original scheme

Revised ACE estimate

£1.26 million

Transfer of Building and Council’s Reserve

• The Quirk Review - Released on May 15th

• Making it easier to transfer assets and funding into community hands

Where will the funding come from ?

Town Council £650,000

Local donations £160,000

External grants £450,000

£1,260,000

Running costs and Viability***

Alternatives to the Corn Exchange

***The Way forward

Running costs

Corn Exchange: Business Plan

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

50000

1 2 3 4 5 6 7 8 9 10

Year

Am

ou

nt Income

Costs

Yearly balance

Alternatives to the Corn Exchange?

Partnership Approach and

The Way Forward

Next steps

• Agree roles and responsibilities

• Form Trust / Charitable Company

• Finalise design brief

• Appoint design team

• Start fund raising

The Way Forward

Summary and Conclusion