The project to develop Surrey Street is well underway and we are currently focussed on two main areas;
Planning
A detailed analysis of the existing facilities has now been completed and we have a good understanding of what needs to be improved.
The coming week will see the formation of a group to look at the options available.
Funding
The project will be funded in three different ways;
Existing capital:
The club have agreed to establish a 'Surrey Street Development Fund' into which they will deposit their contribution towards the cost of the project. The contribution amount will be announced shortly.
New capital:
New capital will be generated through the sponsorship, donations and fundraising activities. The mechanics of selling the currently un-issued shares in the Football Club for this purpose are also being looked into. All money raised will go directly into the Surrey Street Development Fund. Further details will be released shortly.
Grants:
Only when the planning stage of the project is complete will be in a position to complete our application to the Football Stadium Improvement Fund (FSIF) and also know what level of grant we will be looking for. The grants are calculated as percentages of the cost of the different elements, so the cheaper you can get something for, the less money you'll receive towards it. Until we know what we want and have firm costs for these items, we will not know the size of the grant we can apply for, although we do know that it is capped at £100,000.
In addition to applying to the FSIF a full review of all available grants is currently underway.
The deadline for the completion of the project is 31st March 2011, so it will be ready in time for the League's inspection next season. We recognise it is a tight deadline, but we feel it is an achievable one.
