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Mayor boosts local ‘good growth’ projects with £24 million

Wednesday March 11th, 2020

Final round of Good Growth Fund allocated £23.7 million to 42 projectsinvestment_9147687Sml

More than 2,000 jobs created or safeguarded and 5,000 businesses helped

Mayor makes more than £340,000 of crowdfunding pledges

Innovative projects which help Londoners shape the future of their local communities are set to benefit from a £24 million investment from the Mayor of London, Sadiq Khan.

From a community theatre and a fully-accessible community centre for Londoners with disabilities, to exciting plans to transform markets and high streets, 54 projects across the capital will benefit.

Through his Good Growth Fund, the Mayor has announced a final £23.7 million to support more than 40 forward-thinking regeneration projects across the capital.

Launched in 2017 and delivered in partnership with the London Economic Action Partnership (LEAP), the Good Growth Fund seeks to make London fairer and more inclusive by strengthening civic networks at a local level, encouraging innovation and supporting great design. In total, the Fund has supported 138 projects, allocating more than £75 million.

Meanwhile, he has made pledges worth £343,500 through the seventh round of his Crowdfund London programme – from a social enterprise cinema in Brent to a grassroots community space in Upton Park, the Mayor is supporting 14 community-driven ideas.

Since its launch, Crowdfund London has backed more than 130 local projects proposed and delivered by communities to improve their local areas. The Mayor has pledged more than £2.5 million alongside almost 20,000 members of the public.

Good Growth Fund

One of the successful projects in this third and final round is the Market Garden City in Waltham Forest and Haringey. The Mayor’s investment of £1.2 million will help create new facilities for community food education, distribution, skills training, volunteering opportunities and employment – all directly targeted at a diverse range of local people.

This funding round will create or safeguard more than 2,000 jobs, support almost 5,000 business, help 1,500 people progress into work, bring 150 empty units back into use in local high streets and create more than 12,000 volunteering opportunities.

Several projects will receive a share of £2.3 million to deliver improvements in air quality, through innovative projects to reduce the reliance on diesel generators for Londoners living on the canal network.

The Good Growth Fund also fosters collaboration between organisations of different sizes and sectors – more than half the funded projects in this round have at least four partners.

Crowdfund London

In the latest round, Mayoral pledges include £50,000 to The Lexi Hub Appeal in Brent – the UK’s first social enterprise cinema. If successful, its crowdfunding campaign will help it provide 2,000 hours of additional community activities, screenings and volunteering opportunities each year, as part of its wider work to tackle isolation and support the local community.

Previous projects include a new public space designed and built by young people in Hackney and a community centre and café in Haringey.

Under the crowdfunding model, once each campaign successfully reaches their fundraising target the Mayoral pledges will be released. The programme is delivered in partnership with civic crowdfunding platform Spacehive.

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