This is the first of of a series of regular updates which will be circulated to all members and which will also be published on the HOTV website in a new page labelled HOTV News.
The total contributions to the project has now reached £115,300, across 145 members. This represents excellent progress towards our target. A big thank you from the HOTV committee to all who have contributed. As many of you will have seen our progress is being displayed on the ‘Yard of Ale’ mounted outside the Royal Oak.
There was a surge in contributions to the HOTV share offering right at the end of the designated offer period. This combined with many comments around the limited period that the offer was open resulted in a decision to extend the window to purchase shares. Contributions are still flowing in, so if you haven’t already invested, or if you have and can spare a little more, we would love to hear from you!
The share offer must be a success in order to move on to the next stage of the project to provide Stoke St Gregory with
- A thriving centre to the village
- Better local services and improved self sufficiency
- Sustainable house prices versus a 3-5% decline
- More opportunities for all members of the community
- A successful and inclusive community
The shop has confirmed it will close on the 31st December. As it will be impossible to complete a transaction to secure the Royal Oak before this date, the possibility of alternative arrangements has been seriously examined. Several creative options have been evaluated but, none of them can be said to provide value for shareholder money as many of the costs associated with such an option would be written-off. While the legal complications and risks of renting space in the Royal Oak has led the HOTV committee to conclude that the best course of action is to continue our sole focus as outlined in the Business Plan.
While we move forward with the fund raising, attention is turning to the longer-term management of the project. We are urgently in need of a Treasurer, but also any volunteers who can start to fill roles such as personnel organisation and community liaison. If you are willing to help please contact any member of the committee.