(a)          Decision(s)

(1)          That approval be given for £50,000 of existing New Homes Bonus funding be ring-fenced for use through the ‘Our Vale’ crowdfunding platform to facilitate access to NHB funding and enable, encourage and support community fulfilment projects.

(2)          That the Assistant Director for Community Fulfilment be authorised, after consultation with the Cabinet Members for Civic Amenities and Finance and Resources, to administer the fund distribution in accordance with the funding criteria.

(b)          Reason(s) for Decision(s)

To support local people to bring forward crowdfunding projects.  Evidence shows that relying on national funding pots alone, with no local fund, leads to an approximate 52% project success rate.  However, with a local fund in place that success rate can rise to 80%.

(c)        Alternative Options Considered

Do nothing.  However, this risks limiting the overall impact of the initiative as certain projects which are eligible for current AVDC funding, NHB and Section 106, would be unable to match the timescales required for applications with their Our Vale crowdfunding.

Additionally, not having a local funded based in the Vale leaves projects dependent on highly competitive and harder to obtain national funds.

(d)       Relevant Scrutiny Committee

Finance and Services Scrutiny Committee.

(e)        Conflicts of Interest / Dispensation(s)

None.