Coastal Towns Regeneration Fund Welcomed by Wales Office Minister
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
Wales Office Minister, David Jones is urging Wales’s much-loved seaside towns to capitalise on the opportunity to reinvigorate their surroundings…
Wales Office Minister, David Jones is urging Wales’s much-loved seaside towns to capitalise on the opportunity to reinvigorate their surroundings and apply for their share of a £24m fund launched today by Communities Secretary, Eric Pickles.
The Coastal Communities Fund has been created to provide struggling coastal communities all across the UK with the funding to support new opportunities that can make their towns prosper.
A variety of organisations from across Wales, from businesses to social enterprises are being invited to apply for funding for projects that will help coastal towns diversify from their traditional offer with the ultimate aim of rejuvenating their local economy.
Wales Office Minister, David Jones said:
“We recognise the important role that coastal tourism plays in Wales’ and the important contribution it makes to our economy. Indeed, Wales welcomed 9.6million overnight visitors in 2010, bringing almost £1.8billion into the Welsh economy.
“We want to see as many coastal communities as possible, large and small, submitting quality bids for funding that will support imaginative and innovative projects that promote jobs and growth and help to build stronger and more diverse local economies.”
Successful applicants can expect to receive a grant from £50,000 to £2million to support projects ranging from creating new workspaces to support and grow local economies to supporting small-scale and sustainable transport improvements.
The fund will be financed by the UK Government from revenues from the Crown Estate’s marine assets. Funding will be administered by the Big Lottery Fund’s ‘Big Fund’ and allocated to Wales on the basis of revenue generated by these marine assets.
Notes to editors
- The fund will be financed by the UK Government from revenues from the Crown Estate’s marine assets. The fund will be UK wide with funding allocated to England, Wales, Scotland and Northern Ireland on the basis of revenue generated by these marine assets.
- A prospectus setting out eligibility, suggestions of how to use funds and details of how to bid was published today: www.communities.gov.uk/publications/regeneration/coastalfundprospectus. Applications will be accepted in April.
- Each country will have a country specific board who will work with the Big Lottery Fund to deliver the money. The Big Lottery Fund has powers to deliver funding from non-lottery sources for charitable purposes or purposes connected with health, education or the environment.
- The Fund will be equal to 50 per cent of the revenues generated by the Crown Estate’s marine assets. Based on the Crown Estate’s Marine revenues in 2010/11 (£47.4million) the overall fund will be worth £23.7million beginning in 2012. Funds can be used to support both capital and revenue projects and communities will be encouraged to match funds with other pots of money.
Published: 9 February 2012