In Spondon, a developer (Wheeldon Brothers) has begun to build more than a hundred houses on a large plot adjacent to the canal. By building a section of canal, the developer has reduced the required cost of building a balancing tank to deal with rainwater flooding. Likewise by using the canal land as part of the “leisure” provision they can sell properties close to the canal at a premium, thereby generating more profit. Thus they have provided the Trust with a “free” section of canal.
The availability of funding is a key driver to choosing which projects to pursue. We need to operate in a planned but opportunistic manner. Having a strategy already in mind for each section allows the Trust to respond to any opportunity that arises.
One thing that is certain is that the steady progress of each section put back into water underpins the support for the next section. Demonstration of the benefits in one section encourages the next and the financing challenge becomes easier.