The Renewal Trust was formed in inner city Nottingham as part of City Challenge Exit Strategy. The Trust aims aim to bring about improvements in the quality of life of the communities of St Anns and Sneinton by supporting and promoting activities to renew the area socially, economically, environmentally and 'in Spirit'.
Nottingham City Council transferred an old school complex in the St Anne’s area to the Trust 2000 with annual revenue budget to create the Sycamore Centre Complex. Facilities at the complex now comprise a youth and community centre, a refurbished sports hall and a business centre. The business centre, run by a separate trading subsidiary, has 18 units which are fully let and provides an annual gift aid surplus which is used to support the Trust’s wider work in the area.
Quantifiable benefits include:
- £120,000 SME grants fund per annum
- £250,000 rolling loans programme
Example of use of Renewal Trust property - Hungerhill Trading Ltd.
Hungerhill Trading Ltd. Is a property managing subsidiary of the Renewal Trust. A stated aim is that any surplus from the operation of the company will be utilised to support the Trust’s wider charitable aims. In 2004 £10,500 was transferred by way of a Gift Aid donation from Hungerhill Trading Ltd. to the Renewal Trust. The funds were used particularly to support the Trust’s work with young people.
To find out more visit www.renewaltrust.org.uk
