Deadline looms for councils to get a share of Government High street cash
A £675 million pound high street fund is available to local councils to show an expression of interest of why their town should receive a share of the fund and what they plan to do with the money. The deadline is the 22nd of March 2019 and a maximum of £25 million pounds can be applied for. The Government is expecting the majority to bid for funding between £5-£10 million per town, meaning potentially up to 135 towns will benefit. It is expected the earliest the councils will receive notification of any successful bids will take between 6-12 months.
In summary, the prospectus goes onto say:
This government is committed to helping more high streets adapt and meet these changing expectations; not just to survive, but to thrive. This is why we launched Our Plan for the High Street in autumn with a fund of £675m. Our Plan for the High Street includes a cut in business rates by up to a third for a wide range of retail properties for two years, a consultation on planning reform to make it simpler to create more homes, jobs and choice in our town centres, and the creation of a High Streets Task Force. The Future High Streets Fund is an essential part of Our Plan for the High Street, providing co-funding towards capital projects that bring transformative change. We want to see the regeneration of our town centres through innovative proposals around transport, housing delivery and our public services. Because no two high streets are the same, we are looking to work with visionary local leaders who understand what their local communities will need in the years to come. I’m looking forward to reading your Expressions of Interest and seeing your positive visions for our future high streets – places that can flourish for years to come.
You can download the full prospectus here
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