Brighton Council crowdfunds property renovation

“The Victorians built their public structures to last, but they didn’t lose a lot of sleep over the cost of long-term maintenance.

The Madeira Terraces on the east of Brighton’s seafront were built in the mid-1800s and have formed the backdrop to the National Speed Trials, Brighton Marathon and a host of other public events. But over the years, the cast iron has taken a battering from storms across the channel and has been sorely neglected, leading to their closure in 2013.

The dangerously decrepit terraces are a sad contrast to Brighton’s glitzy attractions, such as the i360 observation tower on the main drag. This vital restoration work is the council’s responsibility, and the final bill could be as much as £30m.

Last year, Brighton and Hove council lost out in a bid for government funding to fix the problem and has now launched a crowdfunding appeal. At the time of writing, it has raised £157,193 of its £430,669 target, including a contribution of £100,000 from the council. The closing date for the campaign is 30 November.

Anyone who pledges £2 or more will become a “friend” of Madeira Terraces and will be eligible to vote on which businesses will move into the first three restored arches. A pledge greater than £5,000 will earn a name on a large plaque on the terraces. The crowdfunding scheme is organised by funding platform Spacehive, which will be paid around £15,000 if the campaign is successful. No money will be taken from donors until the total is reached….”

https://www.theguardian.com/cities/2017/sep/05/power-people-councils-crowdfunding-regenerate-madeira-terraces-brighton