The Community
Development Foundation (CDF) has announced the launch of the Communities First
Fund.
The £80m
government-funded programme that will run for four years, until March 2015,
consists of a £30m Neighbourhood Matched Fund programme for some of the most
deprived areas in the country and a national £50m Endowment Match
Challenge.
Through the
Neighbourhood Matched Fund, the 600 most deprived areas in England will be
awarded between £17,000 and £200,000 to give out as grants within their
locality. The CDF is currently seeking members for 600 grant-giving
panels. The supermarket chain Asda will provide publicity and support for
the programme at both local and national levels. In many areas, charities will
also be able to access match funding from the Asda Foundation.
The £50m
Endowment Fund will be available only once £100m in match funding has been
raised from other sources. The target is to help donors create funds
valued at £150m, £100m of which will be private donations topped up by £50m of
government match.
The fund is
currently in the process of raising money and eligible organisations will be
able to apply to the programme in 2015.
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