Historic Environment Scotland, the public body responsible for the protection and promotion of Scotland’s heritage, has joined up with partners to launch a new £7 million Heritage Impact Fund to support projects that deliver economic and social impact through re-use of Scotland’s heritage buildings.
The Heritage Impact Fund is a joint initiative with contributions from the National Lottery Heritage Fund, Historic England, Historic Environment Scotland, Cadw and the Architectural Heritage Fund itself. Additionally, Rathbone Greenbank Investments provides investment management and loan facilities to the AHF.
The Fund offers tailored loan finance for charities, social enterprises and community businesses in Scotland seeking to acquire, reuse or redevelop buildings of historical or architectural importance.
These buildings may be listed, in a conservation area, or may be of special significance to the community. Loan amounts will be up to £500,000 per project with a maximum three-year term, or up to five years in exceptional circumstances.
As well as helping deliver projects that support the sustainability of historic buildings, the Heritage Impact Fund will support organisations with a clear social mission seeking to deliver demonstrable local economic and community benefit.
The impact of the fund will vary from project to project but it is expected to include new job creation, the creation of training and volunteering opportunities and the restoration and re-use of heritage buildings for a variety of commercial and community uses.
Historic Environment Scotland has provided £427,000 funding to the Architectural Heritage Fund (AHF) to support the delivery of the loan scheme, which is the first partnership loan fund in Scotland and the first of its kind for the heritage sector.