The Bridge House Estates are a charitable trust, established in 1282 by the City of London Corporation in the English city of London. It was originally established to maintain London Bridge and, subsequently, other bridges. Funded by bridge tolls and charitable donations, the trust acquired an extensive property portfolio which made it more than self-sufficient. As well as maintaining the bridges, the estates also make other charitable grants through the City Bridge Trust, their grant-making arm.
Since it was established, the trust has maintained, and on several occasions replaced, London Bridge. The trust also built Blackfriars Bridge and Tower Bridge, and purchased Southwark Bridge from the toll-exacting private company that built it. Most recently it took over ownership and maintenance of the new pedestrian-only Millennium Bridge, having provided a large amount of the funding for its construction.
Until 1995, the trust was only permitted to use its income for expenditure on its bridges. However with a surplus of income over expenditure, a cy-près scheme was adopted in that year to allow any surplus income to be used for other charitable purposes benefiting Greater London. These grants are made though the City Bridge Trust.
Read more about Bridge House Estates: Bridge House, Logo, Governance, Finances
Famous quotes containing the words bridge, house and/or estates:
“In bridge clubs and in councils of state, the passions are the same.”
—Mason Cooley (b. 1927)
“Yet the day wears,
And door succeeds door;
I try the fresh fortune
Range the wide house from the wing to the centre,
Still the same chance! she goes out as I enter.
Spend my whole day in the quest,who cares?”
—Robert Browning (18121889)
“I hate the noise and hurry inseparable from great Estates and Titles, and look upon both as blessings that ought only to be given to fools, for tis only to them that they are blessings.”
—Mary Wortley, Lady Montagu (16891762)