HUB-IN Interviews: A focus on the Financing Models for Historic Urban Area (HUAs) projects
Novel opportunities emerge as the heritage regeneration financing landscape evolves. When looking at past and current projects, financing comes predominantly from classic public and private funding sources. Yet as we will discover that crowdfunding and community funding are increasingly becoming a part of the funding mix.
HUB-IN Places dare to experiment with new financial structures, combining traditional public funding streams with other (private) sources of funding. In creating novel financial structures, HUB-IN cities carefully balance potential shifts in the distribution of power and influence, contributing to their city’s inclusive and sustainable development.
Today’s Expert: Henry Mentik from Veerhuis Community.
Veerhuis Community – The online Veerhuis Community was created to bring together all people who are ready to realize a loving, just and connected world. Historically, the term Veerhuis (ferry house) designates a cafe where you can wait until you can transfer with a ferry. The building also had the function of the ferryman’s residence. Occasionally the house also had the function of a toll house.
What is The Veerhuis?
The Veerhuis (ferry house) is part of the municipal heritage and operates a do and knowledge home for the new economy. It is organised as a Community Land Trust. There is the land, the community and the entrepreneur leveraging the value of the land, for the benefit of the community. There needs to be a balance between these three. The legal entity can take various forms, but in all cases the land is taken off the market.
How is the Community Land Trust governed?
The governance model for our Community Land Trust is a shared partnership. It does not require a notary, only for sending invoices we need a legal entity. The starting point is the heart and passion of the partnership and the people in it. We avoid discussions when we have meetings but use different formats that prevent competition and promote sharing ideas. If someone has an idea, he or she can do it, we only ask to do a sanity check with one or two others.
What is the value of local ownership?
I know a farmer who desperately wanted more land in order to be profitable. He got a different advice. Sell 40 of your 65 cows and sell all machinery. Then sell the farm to the community living in your village, and start working for them. This works. You get a new kind of entrepreneurship where value is embedded locally. This also blends the difference between a customer and an employee. The membrane between the business and the customers can let through more, including financing and contributing to the value creation.