London Good Growth Fund

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London Good Growth Fund

The Good Growth Fund offers a tiered range of funding and support to suit different applicants and different types and scales of projects, and to build a broad and balanced programme of exemplary regeneration activities.

The funding options are:

  • Capital Grants up to £5 million to deliver place shaping and development projects.
  • Repayable Capital Grants of between £50,000 and £2 million. Repayable grants will typically be offered at a fixed interest rate agreed during Stage 2 of the application process. Repayable grants may be offered alongside capital grants.
  • ESF revenue grants of between £500,000 and £2 million to deliver employability and skills projects.

The London 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 has been designed to support three strategic themes:

  • Empowering People
  • Making Better Places
  • Growing Prosperity

Each theme comes with its own set of challenges and opportunities, and no theme can be considered in isolation.

Deadline(s): The Fund has a rolling application process, with two deadlines per year and the applicant can submit their Expression of Interest at any time. Applications received by 16:00 on Monday 4 September 2017 will be included within the first tranche of projects for appraisal. If the applicant submits their proposal after this deadline it will not normally be appraised until the next tranche of project appraisals, which the provider anticipates will be six months later

Applicants are required to provide at least 50% funding from alternative sources, although the provider 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.

https://www.london.gov.uk/sites/default/files/good_growth_fund_prospectus.pdf

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