Glastonbury Town Council approves £850,000 loan application to complete St Dunstan’s House renovation
By Laura Linham
23rd Sep 2024 | Local News
Glastonbury Town Council is set to apply for a Public Works Loan of up to £850,000 to fund the completion of the St Dunstan's House renovation project after facing a significant shortfall in funding.
The decision was reached during the last town council meeting, where councillors discussed the financial challenges of the long-awaited project.
The historic building, which holds great significance in the community, has been undergoing restoration to ensure it can continue to serve as a valuable local asset.
Councillors were keen to emphasise the importance of securing funding to ensure the completion of the project.
Councillor Jon Cousins said: "This loan will give us the security we need to ensure that the renovation of St Dunstan's House can be completed. We are exploring every funding avenue, but this loan provides a safety net that allows us to move forward without further delays."
The proposed loan would be taken out over a 20-year term, with the option to repay it early if additional grant funding becomes available. Councillors expressed optimism that grants may help reduce the overall cost, but they acknowledged that securing the loan was a necessary step to ensure the project stays on track.
The St Dunstan's House renovation has been a key goal for the council, with plans to preserve the historic structure for future generations while ensuring it remains a vibrant hub for community events and activities. "This project is about more than just the building—it's about creating a space for the whole community to benefit from," said Councillor Serena Roney-Dougal during the meeting.
The council will now proceed with the formal loan application, with updates expected at future meetings. In the meantime, efforts to secure additional grants will continue in the hope of reducing the long-term financial impact on the council and local taxpayers.
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