The opening of a "library of things", for residents to borrow items when needed, is expected by late spring.
The 'Letchworth Garden Shed' will allow its members to borrow a variety of items by paying a small annual fee.
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The membership fee is expected to be around £10 per person.
Members will be able to borrow both useful items such as a jet wash, and more hobby-focussed objects such as a keyboard.
The Garden Shed's board - comprised of founder Angela Bell, two local councillors and a number of local business owners - are currently in talks with the Letchworth Heritage Foundation over a premises.
Letchworth Garden Shed founder Angela Bell told the Comet: "It was lockdown, I was scared and bored, and we'd just moved into a new house - we're newcomers to Letchworth.
"I thought I would make some curtains, and I thought 'I'll buy a sewing machine'... They're expensive!
"So, I thought 'maybe I'll buy one and I'll take up dressmaking', but seriously I'm not going to do that.
"I just want to sew some straight lines, and I thought 'you must be able to hire a sewing machine'.
"But, a bit of Googling took me to libraries of things, and I thought Letchworth must have one!
"It must already have one because it's already that kind of place.
"I was shocked to my core that there wasn't already a library of things.
"Then, about three months went past with me walking around the house going 'somebody should really do that, clearly not me'.
"Then after about three months, I was like 'I'll give it a go and we'll see how it goes' and here we are!"
Along with a premises, the Letchworth Garden Shed are looking for new volunteers and young board members to join the organisation.
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Cllr Daniel Allen added: "Letchworth has always been an eco-friendly town.
"We feel that, using the 'reduce, re-use and recycle' method, the Letchworth library of things will keep going with that ethos of the town."
For more information, visit the letchworthgardenshed.com.
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