14 Jul Mayor of London Launches £70 Million London Good Growth Fund Supporting Regeneration in the Capital
The London Good Growth Fund is the Mayor of London’s new regeneration programme. It has been designed to support three strategic themes:
- Empowering People
- Making Better Places
- Growing Prosperity
The programme offers a tiered range of funding and support to suit different applicants and different types and scales of projects, and to build a broad and balanced programme of exemplary regeneration activities. The funding options are:
Capital Grants up to £5 million to deliver place shaping and development projects.
Repayable Capital Grants of between £50,000 and £2 million.
ESF revenue grants of between £500,000 and £2 million to deliver employability and skills projects.
The programme will fund up to 50% of the total project value.
The Good Growth Fund is open to a broad range of public, private and third-sector organisations including: London boroughs, sub-regional partnerships, town teams and business improvement districts, workspace providers, community groups, social enterprises, small and medium-sized enterprises, and charities within London that wish to drive and lead regeneration in their local area.
Projects may deliver on one or more of the following actions:
- Developing Civic Infrastructure
- Backing Small Business
- Securing and Create Workspace
- Driving Innovation
- Building Skills and Employability
- Delivering Community-led Regeneration
- Enhancing Public Space
- Sharing Culture
Applicants should be mindful that, with the exception of the ESF element, only capital funding is available from the Good Growth Fund. The provider is therefore particularly looking for proposals that bring complementary revenue funding and can link capital investment with addressing wider and underlying strategic issues.
The Fund has a rolling application process, with two deadlines per year and applicants can submit their Expression of Interest at any time. Applications received by 4th September 2017 will be included within the first tranche of projects for appraisal.