Wanted – Leaders for new regeneration trust fund
Big Lottery Fund
The Big Lottery Fund (BIG) today announced it is creating a new £15 million independent Trust in Scotland to support disadvantaged urban communities which have been most affected by serious economic decline, market failure and disadvantage.
BIG has today published a Trust Specification outlining details and information about how an organisation might set up the independent JESSICA (Scotland) Trust to deliver this multi million funding over the next decade. The decision to establish an Independent Charitable Trust will mean that long term help can be offered to these disadvantaged communities.
Big Lottery Fund Scotland Chair, Alison Magee, said: “This is an innovative way of working for us at the Big Lottery Fund. In setting up the JESSICA (Scotland) Trust we can ensure that disadvantaged urban communities will have regeneration funding available to them for much longer than if this were one of our grants programmes.
“We know that successful regeneration can take a long time and should involve local people. The JESSICA (Scotland) Trust will allow communities to access regeneration funding over the next decade, allowing them to address their own issues in a sustainable way at a pace that suits them.”
BIG’s JESSICA (Scotland) Trust has been specifically designed to complement and enhance the separate European Investment Bank (EIB)’s Scotland JESSICA (Joint European Support for Sustainable Investments in City Areas) Fund. The EIB’s JESSICA initiative has been designed to provide an investment platform to regenerate some of Scotland’s most disadvantaged communities.
For parties interested in putting forward a proposal to run the Trust there will be a half day briefing session on Thursday 16 December in Glasgow with the opportunity to find out more and ask questions. To attend you must read the Trust Specification which can be found on the Big Lottery Fund website and respond by email formally expressing your interest by 5pm on Friday 10 December 2010.