7 Economic Strategy - Resourcing

The seventh section of the report suggest alternative sources of funding and available resources but also recommends that professional advice is needed in this area.

7.1 Alternative Funding Sources

In order to finance local projects we may be able to look beyond typical local government finance through the precepts and Milton Keynes Council. For the foreseeable future funding of local projects can be derived from a hotch-potch of funding sources which set up a variety of sophisticated criteria to target resources into specific areas. Speed can be of the essence. As a consequence making such applications can be frustrating and time-consuming. It may be useful to seek professional support so that with an overall knowledge of the social requirements of the area, these sources of funds can be explored to match our needs. National and EEC funding should be considered.

7.2 National Funds

Potential SRB funding for West Bletchley which would require co-operation from Milton Keynes Council is not the only external source of such funds. For example, funding may be available for business related initiatives through projects under the umbrella of ‘Business in the Community’ (South-East office 0171 2241600). These include ‘Opportunity 2000’ aimed at employment opportunities for women and ‘Business in the Environment’ to raise the priority businesses attach to the environment. Local firms including EDS and Railtrack are members of the organisation. Lottery funding may also be another example. Landfill funds may be sought for environmental and conservation projects. In many cases we would be expected to provide matching funding.

7.3 Organisations

Many companies operate community funds (e.g. Tescos). Other organisation may be interested in supporting local initiatives. Voluntary organisations and charities may be willing to be more active in areas where there is local matched funding.

7.4 Commercial Link-ups

Once contacts with local businesses have been set up we should look at projects which are mutually beneficial. This may be in the form of events or jointly beneficial publicity or it could be involve specific projects. For example it may be useful for retailers to discount fares on the proposed shuttle bus or to offer special terms to customers in identified target groups. It is suggested that the latter is not in the form of cash but, for example, vouchers for home insulation for the elderly.

7.5 Premises

A number of the social needs imply a requirement for access to premises. The same is true of proposals to encourage IT training, distance learning and tele-working. In some cases this may require that the council leases premises directly but it is also suggested that the council undertakes a role as an agency for letting and allocating community and spare educational premises for other bodies. By adopting this role it may be possible to cross subsidise community projects with commercial letting.

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