The Mayor of London has announced the award of nearly £32m of funding from his Outer London Fund to 18 boroughs across the capital. Regeneris provided economic evidence to support funding bids by two of the successful boroughs – Havering and Hounslow.
The £50 million Outer London Fund (OLF) was launched by the Mayor of London in 2011 with the aim of strengthening the vibrancy and growth of Outer London’s high streets. The London Borough of Hounslow submitted a bid for funding of around £2 million from the OLF to deliver a range of projects in Hounslow Town Centre. The proposed projects ranged from major public realm and environmental improvements to the staging of a series of large, high profile events aimed at attracting more people to the town centre area. Meanwhile, the London Borough of Havering submitted a bid for funding of £900,000 from the OLF to deliver a range of projects in Rainham town centre, again focusing on public realm, high street and environmental improvements.
Regeneris was appointed to provide economic inputs to support both the LB Havering and LB Hounslow bids. Our work included detailed assessment of the likely economic impacts of the various projects (in terms of employment and GVA creation) and the development of logic chains setting out the case for public sector intervention at each location. These economic inputs formed a central element of the successful funding bids submitted to the GLA by LB Havering and LB Hounslow respectively.
It is anticipated that the projects which have secured funding will be delivered over the period to 2014.
Regeneris has strong experience supporting funding bids - most recently we have helped clients secure investment from funds such as the Regional Growth Fund and the Outer London Fund. For more information on the support we can provide, please contact Chris Paddock (c.paddock@regeneris.co.uk) on 0207 608 7200 or Stephen Nicol (s.nicol@regeneris.co.uk) on 0161 234 9910.
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