Recording of our Zoom AGM from 15th September 2021
Peffermill Project Model - Property Income & Expenditure
As described at the AGM the plans have been amended to provide 9 self-contained units within the property instead of 9 bedrooms which will provide better long-term accommodation for the future residents including kitchen facilities and en-suite toilet / shower facilities. The provision of these increases the amount of Local Housing Allowance that the accommodation qualifies for, so a larger rent can be charged within our commitment to peg the rent to this. The larger rent combined with a loan from the charity bank and grant funding obtained by Rowan Alba means that the improved provisions are affordable as shown in the projected financial plan which also includes a reserve loan from the Co-Op bank to meet any shortfall.