Update 19th November 2008 - funds still available for bidding in the third round

Application deadline 5th January 2009

Somerset County Council Market Towns Regeneration Fund

The Somerset County Council’s Market Towns Regeneration Fund is a new fund being piloted for this year and is designed to help Market towns improve the economic vitality of their community as part of a strategic approach to Somerset County Council's relationship with Market Towns across Somerset.

The purpose of this Fund is to provide an opportunity for constituted groups and local authorities to bid for capital investment funding to deliver clear and real economic benefits for market towns and their hinterland. The Fund can help to kick start new capital projects or develop existing economic initiatives.

The decisive factor in determining support for a project will be whether it contributes to economic activity, employment opportunities and has the potential to make a positive contribution to the regeneration of the town. An allocation of £150,000 has been made available from Somerset County Council and the Somerset Rural Renaissance Scheme for  2008/09.

 One off Capital Grant investments are to be made of between £5000 and a maximum of £25,000. It is anticipated that there will be a number of smaller investments towards feasibility studies but the majority of funds will be over £15,000 to ensure that projects are sufficiently strategic in nature. This investment may be used to support strategic capital projects such as the redevelopment of an existing building e.g. for training, tourism, and business related activities, high street improvements, the enhancement of facilities, transport related infrastructure and major pieces of equipment.

The first panel meeting in September provisionally offered support to several projects amounting to total funding of £42K.

The next application deadline is 5th January 2008. (Please note that all revenue funds must be spent by March 31st 2009)

It is strongly recommended that you discuss your project ideas before making your application to confirm your eligibility.

Please contact:
Mandie Berry
SCC Rural Project Officer
Tel: 01749 341438

Mobile: 07879 246450 

For more information and detailed guidance notes please see the Guidance document, Application form and Key Facts.