An innovative social bond

Agreement and placement of the innovative financial security

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Luci has been bringing on the negotiations with the aforementioned bank, obtaining the signing of an agreement.

The placement of the innovative financial security, inspired by the recent norms about the Third Sector, got a response that went far beyond the expectations about:
– Amount
– Number of subscribers
– Rapidity of placement

In a few days, in fact, more than 600 subscribers adhered to the venture, subscribing the Social Cid for more than three times the estimated target.
This is proof of the growing attention and sensibility of citizens and firms towards social impact investments and urban regeneration, according to a trend that started on an international scale.

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Reporting

Every single exploitation of the liberal supplies will be reported online on the website www.luciaps.it, starting from the end of February 2020.
Furthermore, each subscriber will be able to personally verify the progress of the project through site inspections, activating a widespread civic monitoring that will involve the entire community.

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Preparatory phase for the start of the renovation works

Here follows the final version of the prospectus presented to the Municipal Administration of Grosseto, along with the rich documentation necessary to the start of the works.

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At the same time, the request for quotes for construction, electrical and plumbing works was started, necessary to renovate the regional property entrusted under concession to LU.C.I. Aps, in order to adapt it to the social impact purposes indicated by Ente Terre Regionali Toscane (a subsidiary 100% controlled by the Region of Tuscany) with the 6 March 2018 public notice and approved at the time of concession of the property itself to the association on 05/06/2019, with subscription of the Disciplinary of assignment on 02/07/2019 between Grantor and Dealer.
Seven local firms were contacted for the realization of the works to be done, and other three for the industrial kitchen supply.
After an accurate evaluation of the offers received, we chose the best one in terms of quality/price ratio and of commitment to carry out the works by March 31, 2020.
By that date, in fact, the Social Cooperative “Solidarietà e Crescita” – which will run two out of the three activities provided inside the building – will start to take over.

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Building site

When Ente Terre Regionali Toscane approved the realization of construction, plumbing and electrical works on the building entrusted under concession according to planning presented in the request (protocol n.167 / 2020 of 9 January 2020), on January 14 2020, the building site was opened on the last week of January 2020, with the first dismantling and safety works on existing systems and fixtures. Afterwards, the first demolitions of some internal walls followed.

First coupon to subscribers and first flow of liberal payments

On January 2020 the first coupon for the Social Cid subscribers accrued.
The relative credit to the individual subscribers’ bank account for an amount equal to 1% half-yearly automatically caused the liberal payment equal to 0.25% on the dedicated bank account registered to LU.C.I. Aps. The second coupon will accrue on July 2020.