JESSICA (Scotland) Trust
BIG Lottery Release
A new £15 million investment in Scotland to help disadvantaged urban communities most affected by serious disadvantage to become stronger through their own efforts
Summary of the programme
BIG is establishing a £15 million JESSICA (Scotland) Trust which will build on the European Investment Bank’s Scotland JESSICA Fund (SJF) by investing in complementary projects that create opportunities for local people and community-led organisations to develop locally owned, led and controlled assets that will lead to local regeneration.
By working in this way BIG will ensure that change and development are strongly shaped by the communities concerned. BIG JESSICA projects will need to demonstrate that they can bring together agencies and communities to develop a common approach to activities and funding, and to ensure that local people have a genuine say in developing their communities.
In February 2011 the Scottish Community Foundation has been appointed as the preferred candidate to set up and run the Trust. BIG has now awarded a development grant of £80,000 to the Scottish Community Foundation to develop a detailed application, business plan and manual of regulations to set up the trust, and will be working with them over the coming months to develop these plans. It’s anticipated that the JESSICA (Scotland) Trust will be up and running by the end of 2011.
In a competitive process the Scottish Community Foundation was assessed to be the best of the seven proposals received by BIG from organisations and consortia interested in setting up the JESSICA (Scotland) Trust. Each proposal set out their vision and approach to setting up the trust. The JESSICA (Scotland) Trust decision making panel considered all seven proposals, and invited four of the organisations to present their proposals before appointing the Scottish Community Foundation as the preferred candidate.
The Big Lottery Fund’s JESSICA (Scotland) Trust will invest in projects that deliver community assets or assets under community control where they meet BIG’s outcomes agenda.
Once established, the JESSICA (Scotland) Trust will be an independent body working to the stated objectives. The Trust will be governed by a Board of Trustees, who will take the key investment decisions on its funds as well as being responsible for the Trust Fund’s governance.
JESSICA funding is targeted at geographic neighbourhoods of greatest disadvantage (13 designated areas) in Scotland.
BIG wants to maximise the impact of change and influence held by local communities over developments that will bring about regeneration. We want to provide certainty, longevity and a model that can invest and re-invest for the long-term benefit of communities.
An Independent Trust can plan for the long-term, get money to where it’s needed most and respond quickly to new issues. It can be flexible and respond in different ways, including giving out grants, providing loans, tendering for services or recruiting staff to carry out its work. A Trust can also raise money from other sources to add to the funds provided by BIG.
If you are unsure of anything or would like further help, call 0300 123 7110 or email our general enquiries line on email@example.com.