£100,000 Capital Renewal Fund approved for Ely city centre

£100,000 Capital Renewal Fund approved for Ely city centre

Landlords, property owners, businesses and community groups are being given the opportunity to apply for up to £20,000 worth of funding to improve the front of buildings or the general appearance of Ely city centre.

The funds will come from a £100,000 pot East Cambridgeshire District Council has allocated from its Market Towns Programme fund.

Examples of projects that will be considered include minor structural or aesthetic repairs to frontages, new or improved signage (not illuminated), street furniture, glazing, painting, planting, improved awnings and improved access into and out of premises.

Interested organisations have between 10 October and Friday 11 November to submit bids between £500 and £20,000.

Cambridgeshire and Peterborough Combined Authority (CPCA) ringfenced £1 million of funding for each of its market towns to deliver interventions identified in their Masterplan documents, which are designed to increase economic growth. Members of East Cambridgeshire District Council allocated £100,000 to the Ely City Centre Capital Improvement Fund at the last meeting of its Finance and Assets Committee to support small improvement projects.

Councillor Ian Bovingdon, vice chair of the committee, said: “Carrying out small improvements such as fixing broken signs, planting up shop fronts or replacing street furniture make a huge difference in enhancing our beautiful city centre and this will encourage residents, shoppers and tourists to spend more time here, which in turn will benefit the local economy.

“We realise with the cost of living crisis many businesses and organisations do not have the extra funds to carry out improvement works.

“This grant is designed to help anyone who has responsibility for buildings in Buttermarket, Forehill, High Street, High Street Passage, Lynn Road, Market Place, Market Street and St Marys Street areas of the city centre.

“It really is a case of small changes being able to make a big difference.”

Grant funding under this scheme will cover the cost of improvements (capital expenditure) and is not intended for work such as surveys, advice or other costs that might be considered non-capital expenditure.

All applications will be assessed following the closing date and funds will be allocated to those which most closely match the funding criteria.

For more information visit our business funding page.