A MAJOR financial milestone has been reached by Minehead Swimming and Leisure (MSL) in its campaign to build an indoor public swimming pool for West Somerset residents and visitors.
The society has been awarded a £6,000 grant by The Reach Fund which will allow the group to develop a business case which will see it become ‘investment ready’.
MSL will now be able to carry out planning and analysis to make it ready for the first major round of investment needed for a full-size, indoor, public swimming pool in Minehead.
Now, it hopes to launch a pioneer share offer later this year which will help to unlock future rounds of funding.
The Reach Fund supports charities and social enterprises in England which need help to provide the information required by potential investors.
MSL secretary Cath Brown said: “MSL are successfully moving in the right direction.
“With the Reach Fund granting us funding it will help with publicity, business planning, and lots of other things.
“This has been a great boost after the last year of diligence and hard work.
“Thanks also to our partner South West Co-op Development and MSL members for their continuous support in this venture.
“Onward and upward for a sustainable pool for Minehead and West Somerset.”
MSL, formed in 2020, is a community benefit society run as a co-operative, with an ambitious goal to restore a heated indoor, public swimming pool for Minehead.
Ms Brown said the best way for residents to support the project was to become a member.
She said: “When you buy one or more shares worth £1 each, you become a member and a shareholder in the society.
“You can buy as many shares as you like but every member gets one vote.
“This is to stop anybody having a controlling interest just because they can afford to buy lots of shares.
“All you need to do to join and have an equal say in the project is buy one share for £1.
“Not £1 a year, or £1 a month, just £1 forever. That is it.
“As a member and a shareholder, you are then entitled to vote in future decision making and join our meetings to make sure your voice is heard in your project, by West Somerset residents for West Somerset residents.”
More information about the group and its work and how to join can be found on its website.
Minehead Swimming and Leisure also receives support when residents play the Somerset West Lottery and select it as their ‘good cause’.
The society held a community engagement event before Christmas in Minehead’s public library and is planning to organise further events in the town and the surrounding area during this year to allow people to meet MSL officers in person and discuss the project.
Ms Brown said: “We cannot wait to move forward to our first round of investment later in the year with your support.”
She said anybody who had any questions about the project should email to [email protected].