London Good Growth Fund
London Good Growth Fund
The Good Growth Fund is the Mayor of London’s new regeneration programme from 2017-18 to 2020-21, delivered through the London Economic Action Partnership (LEAP). It will provide over £66 million capital funding from sources including the Local Growth Fund and European Social Fund , as well as expert regeneration advice, design support and knowledge sharing opportunities. 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 mediumsized enterprises, and charities within London that wish to drive and lead regeneration in their local area.
The Good Growth Fund offers a tiered range of funding and support, to suit different applicants and scales and types of projects which together can build a broad and balanced programme of exemplary regeneration activities. The fund will include capital and revenue grants, repayable capital grants, or a mixture of both. The Good Growth Fund will augment and complement other Greater London Authority (GLA) and Transport for London (TfL) programmes investing in London’s housing, transport infrastructure, skills, culture and environment, as well as regeneration activities by local authorities, the private and third sector.
The Good Growth Fund will expect to fund up to 50 percent of the total project value, with the remainder covered by match funding. Applicants should be aware that the majority of the available funding is capital, so we would encourage revenue elements of projects to be funded via match. We may be willing to show a degree of flexibility to the 50% rule where exceptional outputs and outcomes are delivered and will review this on a case by case basis.
We want to fund a range of projects as part of the Good Growth Fund and hope applicants respond creatively to our suggestions with proposals that address the interrelated strategic themes outlined in the previous chapter. This section sets out the types of actions we will support. This list is not exhaustive, and projects may deliver on one or more of the following actions:
- Develop Civic Infrastructure
- Back Small Business
- Secure and Create Workspace
- Drive Innovation
- Build Skills and Employability
- Deliver Community-led Regeneration
- Enhance Public Space
- Share Culture
Applicants should be mindful that, with the exception of the European Social Fund (ESF) element, only capital funding is available from the Good Growth Fund. We are therefore particularly looking for proposals that bring complementary revenue funding and can link our capital investment with addressing wider and underlying strategic issues