Thousands of pounds to boost Cheltenham's economy

Published on 26th August 2011

Local organisations could be in for share of £179,000 as Cheltenham Borough Council goes live with a new grant scheme.

From today, businesses and community groups can apply for a grant towards initiatives which will encourage economic and business growth in Cheltenham . The funding will be allocated in two rounds with the first round being launched now with a closing date of 5.00pm , Friday 30 September. A second opportunity to bid for funding from the pot will go live in March 2012.

Known as the ‘promoting Cheltenham fund’, the money will be awarded to projects which will increase visitor numbers, business investment and help to raise the profile of the borough on a national or even international scale.  Single awards can reach up to £20,000 though larger bids for multiple events may be considered.

Councillor Steve Jordan, leader of the council said: “Our wonderful heritage of festivals and events really helps underpin Cheltenham ’s economic success by attracting thousands of visitors each year and promoting Cheltenham on an international stage.

‘’I’m really pleased to launch this fund which I hope organisations will use to bring forward exciting projects that will build on this heritage.”

Application forms and guidelines are available online and from the Municipal Offices. The closing date for applications is Friday 30 September. People can also contact Richard Gibson, policy and performance manager on 01242 235354 for more details.

For media enquiries, contact: Katie Sandey, communications team leader, telephone 01242 775050, email katie.sandey@cheltenham.gov.uk

 

Notes

The fund comprises £160,275, of new homes bonus (NHB) supplemented by £18,731 of unspent local area agreement performance reward grant, giving a total fund of £179,006, for economic development purposes to help tackle the recession and promote the town as a place in which to do business, by sponsoring activities and events which will attract visitors and trade. It will include cultural activities such as the festivals and tourism activities.

 

The NHB commenced in April 2011, and will match fund the additional council tax raised for new homes and long term empty properties brought back into use, with an additional amount for affordable homes, in each of the following six years.

 

Cheltenham’s first allocation of NHB amounts to £290,275 and council agreed on 27 June 2011 that along with the £160,000 for the ‘promoting Cheltenham fund’, a further £130,000 will be used to create a fund to support small-scale environmental works that will tackle environmental issues in packages costing around £15,000 or so a time.