New coastal communities fund open

“A further bidding round has opened for the government’s fund to promote regeneration and economic growth in coastal towns.

Successful projects in round 5 of the Coastal Communities Fund will share £40m among them. The money will be available to spend from April 2019 to March 2021.

The fund has allocated £174m to 295 projects since it began in 2012. It is for projects over £50,000 that will directly or indirectly lead to safeguarding and creating sustainable jobs.

Communities minister Jake Berry said: “Coastal communities up and down the country from Barrow-in-Furness to Brighton have been boosted by this funding which has spurred inward investment, sustainable growth, new jobs and exciting economic opportunities for local businesses.”

The fund has generated £8 for coastal area economies for every £1 invested, the minister said.

Successful projects have included a £1.95m grant to Cornwall to repair and re-launch the Grade II Listed Art Deco Jubilee Pool in Penzance as a year-round visitor attraction, a £2m allocation for Blackpool’s Lightpool project to improve its seafront Illuminations and Northumberland’s £1.8m award to turn Amble into a destination for devotees of seafood. …”
http://www.publicfinance.co.uk/news/2018/02/coastal-communities-benefit-ps40m