Hastings Pier - From ruin to rescue. A Community approach

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Terence Berry
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1 Hastings Pier - From ruin to rescue A Community approach

2 The Early Days Shareholders were being treated by the directors like strangers and beggars instead of fellow townsmen Mr. Bovington, Shareholder, 1875.

3 The Local Economy In 1905 the Hastings, St Leonards-on-Sea and Eastbourne Steamboat Co Ltd went bust for several reasons including the decline of Hastings as a town

4 Operating Challenges In April 1910 the annual general meeting of the Pier Company heard there was no dividend, and the causes of failure were described

5 The Heydays In the first week of August 1931 a staggering 56,000 people passed through the turnstiles

6 And Subsequent Decline The company s main asset is an 111-year old structure needing constant attention because of its age and vulnerability to the sea John Lester, Chair, Hastings Pier Company 1983.

7 The Pier closes in 2008 a place of fond memories

8 Community Action: The 2009 March

10 Fire in 2010 the end of the line? The main problem all the way along the line is that it is owned by a private company Louise Neech, Chair, Pier Preservation Society Post-fire Aerial View Pre-fire Aerial View

11 First round success Hastings Pier and White Rock Trust, set up by a group of highly committed local residents, has put together plans to restore the historic fabric of the pier and create new facilities which will give huge impetus to the social and economic regeneration of the town. The particular strengths of this project are that it has mobilised enthusiastic support from the surrounding community and will also provide much needed opportunities for skills training. Heritage Lottery Fund

12 Community Consultation

13 Masterplan

14 Stable Platform for the future

15 Visitor Centre

16 Gathering Place and Cafe

17 Events Space

18 Education Activities

19 Digital Heritage

20 Pavilion Restaurant

21 Outdoor Cinema

22 Music Festival

23 Making plans a reality - Fundraising Approach

24 Primary objective Emphasis on support to HLF bid unless approved no amount of local sponsorship / fund-raising will make a difference once approved local fund raising will be massively better received prioritise limited resources and organisational capacity

25 Some vocabulary. We can t do much until the pier is back under local ownership but we can support the rebuild and the lottery application It s an eyesore that ll cost 4m of our money to pull down The People s Pier the plans are fantastic, go take a look at the website We really need support otherwise we re stuck with that rotting pile of junk go to the website and support the Heritage Lottery bid

26 Project funds raised towards a target of 13.9m 11.4m HLF 750k CCF 250k HBC 200k ESI 500k COMA 250k SIB (Loan) 250k AHF (Loan) 100k HBC/ESCC (Joint Underwrite) All secured in principle by Spring k still needed, but sufficient to green light transfer of ownership through the CPO process

27 The Pier s rescue begins

28 The Pier we bought for one pound in August 2013

31 The continued challenge Sustainability How to ensure economic future for the Pier? Community involvement and charitable status absolutely key to the long term Operating Business needs 150k to support seasonal cashflow requirement Initial target of additional 150k for investment in commercial activity So 500k in total funding still needed

32 Relevant learning The particular strength of this project is that it has mobilised enthusiastic support from the surrounding community HNW individuals proved very hard to attract Charitable Trusts and Foundations proved equally reluctant to get involved (with the notable exceptions of the AHF and the Pilgrim Trust)

33 Building an organisation Vital to harness community support in the most effective and meaningful way Community Benefit Society structure (a membership society of Community Shareholders) offered clarity of ownership and a compelling investment opportunity First registered charity to convert Community shares launched on October 5 th 2013 (3 rd anniversary of the fire)

34 1 shares minimum investment 100 Initial offer period 3 months extended to 6 months

35 An amazing response 600,000+ raised in share capital 3080 Community Shareholders 40% from Hastings and St Leonards 75% from East Sussex and Kent Shareholders in Slovenia and Australia Tremendous sense of pride and achievement Strength for the future local ownership

Engaging the Community - Some statistics: 90 individual events; 6,481 participants 52 family workshops; 1,366 families 24 talks/presentations; 1,005

36 Engaging the Community - Some statistics: 90 individual events; 6,481 participants 52 family workshops; 1,366 families 24 talks/presentations; 1,005 attendees 64 volunteers recruited and trained 3,766 hours volunteer support 4,885 HPC Newsletter subscribers 2,744 Facebook likes; 2,340 Twitter followers.

37 Into 2015 and work continues

39 The Pier reopens in March 2016

41 Formal opening event on May 21 st 2016

44 New opportunity to build resilience Share offer reopened for 3 months Further 260k raised 1400 new shareholders join AHF converts some loan to equity In total Community Shares raised 970k from 4422 investors More fundraising needed to secure long term future

46 The People s Pier

47 Innovation in charity funding Hastings Pier is the first charity in the UK to have shareholders, following long battle with Charity Commission to accept this principle Converted from a registered charity and company limited by guarantee to a charitable community benefit society (with exempt charity status) requiring approval from Companies House, FCA, HMRC and the Charity Commission

48 What are community shares? A form of share capital unique to societies Withdrawable rather than transferable Democratic one member one vote Non-speculative, asset lock prevents capital gain Can pay limited interest on share capital Exempt from financial promotion regulation by FCA when making a public share offer

49 Community Shares Unit Established in 2012 to promote concept and develop the market for community shares Joint project between Co-operatives UK and Locality funded by DCLG Provide good practice guidance Community Shares Handbook (practitioners) Investing in Community Shares (public) Voluntary regulation Community Shares Standard Mark awarded by licensed practitioners

50 Community shares data Since 2012: 700 new societies 350 share offers 120m raised in shares Levered in at least another 250m in capital funds 120,000+ people have bought community shares Arts & heritage: 14 new societies 7 successful share offers 2.11m raised in shares 7217 people have bought community shares

51 Arts & Heritage societies Name details Share capital Members Bradford One Heritage: former Odeon cinema Pre-launch Clevedon Pier Pier improvement visitor centre 253,385 1,086 Clifton Community Arts Centre Former cinema in Telford Pre-launch? Cultybraggan Heritage Former WW2 camp in Scotland 27, Friends of Stretford Hall Former town hall heritage Currently under offer Hastings Pier Heritage 970,000 4,422 Mutual Artists Studios Co-operative Edinburgh Pre-launch Pink Lane Jazz Club Newcastle 124, Portland Works Heritage workspace Sheffield 337, Portpatrick Harbour Historic harbour Scotland 103, Red Brick Building Centre Heritage workspace Glastonbury 120, Savoy Arts Centre Former cinema in Stockport Pre-launch? Star & Shadow Cinema Former cinema in Newcastle Pre-launch Unity House Arts centre Wakefield 179,

Corporate Partnerships. Thom Kenrick Head of Community Programmes, RBS

Corporate Partnerships. Thom Kenrick Head of Community Programmes, RBS Corporate Partnerships Thom Kenrick Head of Community Programmes, RBS plc @thomkenrick / @RBS_CSR Contents 1. About RBS 2. Context what s a partnership? 3. Case study The Royal Highland Show with The Royal