Ricardo Community Foundation
The Ricardo Community Foundation (RCF) is a charity established to take on the freehold at St Clements to ensure that the site remains in community ownership in perpetuity. It will carry out charitable work in the local area (the 4 wards of Bow East, Bow West, Bromley North and Mile End), using the ground rents of around £50,000 collected from St Clements.
Members currently include London CLT, Peabody, Linden Homes (to leave) and Tower Hamlets Council, and in future will include The St Clements Resident Management Company and other local partners too.
The RCF has the power to buy or lease property and equip it for use, raise funds for charitable purposes through receiving ground rents, own community facilities for the public and enter into partnership or joint venture with other charities.
Community benefit
The Ricardo Community Foundation provides an opportunity for the community to take back control of the area by determining the charity’s mission. So far ‘mental health and well-being’ have been established as the main theme.
The RCF, in partnership with London CLT, is currently in consultation with local residents to decide what the RCF funds should be spent on and are also looking for local residents to be on the board.
If you have thoughts on what the £50,000 grant should be spent on or are interested in being a trustee, please contact us at info@londonclt.org.
Learn more about the St Clements Residents' Association here.
The John Denham Building
It is important to the RCF that the John Denham Building at the front of the St Clements site is developed for the benefit of the local community in a way that preserves and promotes its heritage as well as fitting with its permitted planning uses.
In order to achieve these aims for the John Denham building, the RCF will support local fundraising initiatives, to allow the community space to be maximised by and for local residents in perpetuity.
