Over £1.5m invested into Social Economy

UCIT
20 July 2009 - 3:28pm
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Tagged as:

• loans
• social finance
• voluntary and community sector
• Finance

With the help of UCIT, Belmont Tower, Belfast, has been brought back to life.

UCIT's CEO, Brian Howe stated, 'We are delighted to work with such progressive and accomplished social entrepreneurs and wish them well in their community projects.'

Charles Shiels Charity

Charles Sheils Charity was founded by the will of Charles Sheils who died in Dublin in December 1861. The Charity initially acted as an Almshouse but now provides social housing for that in need.   The organisation has approximately 137 properties in five different locations across Ireland.

A loan from UCIT has been approved to finance the renovation costs of 18 derelict houses in Armagh City, as well as additional building work to 7 of the charities current properties.

Northern Ireland Hospice Ltd

NI Hospice was established in 1981 to deliver palliative care services of the highest quality through a range of programmes and facilities across Northern Ireland.

To support this vision, UCIT has approved loan facilities for NI Hospice to cover the cost of the purchase of a spacious split level bungalow with extensive grounds on Old Ballyrobin Road, Templepatrick. The property and surrounding land will act as a transitions unit in Northern Ireland for the care of adolescents and young people (16-24 years) with life-limiting and life-threatening conditions.

Old Belmont School Preservation Trust

Old Belmont School Preservation Trust was established in  November 1999  with the primary  objective of acquiring, restoring and preserving the former Belmont School, a Grade B1 listed Victorian building, with a view to bringing it back  into   use   for   the   benefit   of the   local   community.

UCIT has approved a loan to cover the costs associated with the restoration of the listed Belmont school building, which   now   provides   flexible  and  wide  ranging meeting and   event   space   for  the  local  community.  The building has been rebranded as 'Belmont Tower'.

The Elim Trust Corporation

The Elim Trust Corporation is a wholly owned subsidiary of the Elim Foursquare Gospel Alliance, which was set up to hold property in trust on behalf of the Charity. The objectives of the Alliance are to spread the Christian gospel, not only through traditional church activities, but also through community outreach work.

UCIT   has   approved   a loan   to cover   the   costs   associated   with a new social housing development in New Mossley estate, Newtownabbey. The development will be managed by the Elim church at Carrickfergus; an organisation known for its strong focus on the provision of community support to people from disadvantaged backgrounds. The new development project will provide 6 social housing units for vulnerable adults within the area, comprising 4 apartments and 2 bungalows in a secure complex.