Deputy First Minister Nicola Sturgeon and COSLA President Councillor David O’Neill today announced a £25 million fund which aims to help transform disadvantaged areas across Scotland.
The Regeneration Capital Grant Fund (RCGF), which has been developed in partnership with local authorities, will provide financial support to projects that will help to deliver large scale positive improvements to deprived areas. It will focus on projects that engage and involve local communities and those that can demonstrate the ability to deliver sustainable regeneration outcomes. The fund will be open to local authorities, urban regeneration companies and regeneration special purpose vehicles.
The Deputy First Minister and COSLA President announced the new fund during a visit to Govan Workspace in Glasgow – a project supported by the European Regional Development Fund involving the transformation of the 1670m2 derelict Fairfield Shipyard offices in Govan into 12 new workspaces for SMEs and social enterprises.
Ms Sturgeon said: “Investment in large scale regeneration projects is absolutely key for stimulating economic growth throughout Scotland. The development of this fund is a great example of how Scotland’s public bodies can work in partnership to deliver initiatives that help to create more jobs for Scottish people, while bringing our communities closer together and injecting new life into deprived and run down areas.
“Community involvement is integral to the success of the design and delivery of local economic and social regeneration initiatives. This government is absolutely clear about the contribution that regeneration makes to growing our economy and improving the life chances of Scotland’s people. I am pleased that COSLA have agreed to work with us on this initiative and that local authorities will play a fundamental role in delivery while ensuring local people are at the heart of the projects that will help to transform the spaces around them.”
Councillor David O’Neill, President of COSLA said: “Councils and their partners work at the heart of every local community and are uniquely placed to deliver regeneration outcomes with and for local communities. COSLA and Scottish Government via the creation of the Regeneration Capital Grant Fund are helping to ensure the delivery of Scotland’s regeneration strategy has the biggest economic, social and environment impact possible on local communities.
“Communities want resources focused on delivering large scale regeneration projects which can also deliver wider impacts of job creation, clearing up land as well as regenerating buildings and infrastructure. We believe the fund as envisaged will deliver long term strategic and transformational change. I look forward to seeing the outcomes of this fund at local level throughout Scotland over the next few years. Scotland’s identity is to a large extent local and so are people’s expectations, this fund will enable local authorities to deliver local communities expectations of the places they want to live in and be proud of for years to come.”
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