The Mayor of London, Sadiq Khan, has announced a new £70 million regeneration programme to support growth and community development in London.
The Good Growth Fund is open now to a broad range of public, private and third-sector organisations including London boroughs, community groups and charities that drive regeneration in their local area.
The Mayor has launched the fund to help deliver the objective of Good Growth outlined in ‘A City For All Londoners’, his document which sets out plans to create a better city for all, where no community is left behind and where everyone has the opportunities they need to fulfil their potential.
Delivered in conjunction with the London Economic Action Partnership (LEAP), Good Growth Fund will support projects that are inclusive, innovative and which demonstrate exemplary approaches to challenges faced across London.
The Mayor says he is particularly focused on empowering people by funding projects that will give Londoners the opportunity to actively participate in their local community and civic life; and improving London’s places – shopfronts, high streets, community and open spaces. He also wants to see projects that improve Londoners’ health and wellbeing, or that aim to grow prosperity by supporting specific industries and economic activity.
The Mayor of London, Sadiq Khan, said: “I am delighted to be launching this fund and making a real push to challenge the preconceptions of how regeneration happens in the capital.
“I am calling on boroughs, community leaders, business organisations and the huge pool of London’s creative talent to bring forward their ideas. Using the ingenuity of this city, people’s enthusiasm and our wealth of expertise, I have no doubt that together we can deliver many engaging, exemplary and innovative projects.”
Delivered through the LEAP, the fund will support up to 50 per cent of the total project value, with the remainder covered by match funding from the applicant.
LEAP Board member, Dr Celia Caulcott, said: “We are delighted to be working alongside the Mayor to invest in regenerating spaces and make them better for all Londoners. Ensuring more first-class environments that reflect the realities of living and working in the city will help Londoners of all ages and backgrounds to feel they are part of their local communities, as well as improving their health and wellbeing.”