Towns Fund
The Towns Fund was announced by the Department for Levelling Up, Housing and Communities (DLUHC) in July 2019, with total funding of £3.6 billion.
It was created in response to evidence highlighting persistent challenges that make it difficult for struggling places to change, including:
- Disconnection.
- Land use and buildings that are not suited to modern demands.
- Low skills and business support.
- Limited strategic, local economic management.
- Poor health, low social mobility, inequality, depopulation, crime, and low levels of pride.
The fund seeks to address the role that ‘place’ plays in struggling towns and high streets by focusing primarily on capital investment to deliver the physical infrastructure, and changes to land and building use.
It comprises of two funds:
- Town Deals – aiming to drive the economic regeneration of towns to deliver long term economic and productivity growth. The Town Deals interventions are focused specifically on urban regeneration, planning and land use, skills and enterprise infrastructure, transport and digital connectivity.
- Future High Streets Fund – aiming to renew and reshape town centres and high streets. The Future High Streets Fund interventions are focused on urban regeneration, planning and land use and transport.
Find out more at: https://www.gov.uk/government/collections/towns-fund
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