Wider City of London Interest

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Support Scheme Through Covid-19

The City of London Corporation has agreed to launch a new £10 million grant scheme to support Square Mile businesses that have been hit by restrictions introduced in response to the Covid-19 Omicron variant.  The support is targeted at businesses that primarily operate in the City of London in the retail, hospitality, leisure, and medical sectors.

An estimated 1,100 businesses are expected to qualify for support. Only businesses that were in occupation on 1 April 2021 and have been in occupation continuously since this date will be eligible to apply for a grant. The City Corporation will be contacting most businesses that qualify directly and inviting them to apply for this support through an online application process. Other businesses will also be able to apply via the City Corporation website.

The majority of funding will be provided by the City Corporation, with additional financing provided through the Government’s Additional Restrictions Grant. If a business operates from more than one location in the City, they will qualify for a grant for each location.

The scheme goes further than the Government support being offered through the Omicron Hospitality and Leisure Grant scheme which excludes retail and some personal service sectors from the scheme. The two grant schemes will run in tandem and will both be accessible through the same application process.

Businesses with lower and medium rateable values will receive higher levels of grant on the basis that SME businesses may be more at risk and less able to cope with the reduction of “in person” trade.

  • Businesses with a rateable value of £15,000 or under will be eligible for a grant of £12,000.
  • Businesses with a rateable value of over £15,001 and less than £51,000 will be eligible for a grant of £12,000.
  • Businesses with a rateable value of £51,000 and over will eligible for a payment of £5,334.
Posted on Broad Street Ward Interest, Wider City of London Interest

All Change @ Bank Consultations

Public consultation on proposals to change how Bank Junction operates is open until Monday, 10 May 2021. How to take part in the consultation can be found at www.cityoflondon.gov.uk/allchangeatbank.

The All Change at Bank project is looking towards the future of the area around Bank Station.  The underground station upgrade is due to open at the end of 2022.

Continue reading →

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SME Business Recovery Grant Fund – £50M

Business Recovery Grant Fund

The City Court of Common Council has agreed to create a grant fund (4 March) for City SME Businesses that have been impacted by the COVID-19 Pandemic. The scheme is designed to support businesses which contribute to the City’s vibrancy at street level and directly provide services to returning City workers, visitors, and residents. The necessary infrastructure for a successful City has been affected by enforced closure or low footfall and this scheme will seek to support those businesses that can evidence, through the grant application process, a likelihood that with support they have a reasonable chance to survive beyond the short term.

Continue reading →

Posted on Broad Street Ward Interest, Wider City of London Interest

£50M Covid Business Recovery Fund

The Court of Common Council, the City of London Corporation’s main decision-making body, has today (4 March) agreed to create a new Covid Business Recovery Fund of up to £50 million.

At a virtual meeting, elected Members decided unanimously that grants from the Fund will be made available to small and independent retailers and hospitality businesses together with those providing clinical and professional services (e.g. dentists and opticians) necessary for the successful return of all those who work in businesses in the City.

Businesses applying for support from the Fund will be expected to demonstrate that they are capable of surviving on a viable and going concern basis and that owners have taken other steps to maintain their viability including, where possible, making financial contributions to their own business.

Grants from the Fund would normally be dependent on the businesses receiving substantial financial support (not just rent deferrals) from their landlords.

A report will be brought forward to a meeting of the Policy & Resources Committee and/or the Resources Allocation Sub-Committee – which, together, will be responsible for the Fund and its deployment.  More news ahead, with applications in April and disbursements likely in May.

 

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Covid-19 Recovery Task Force Survey – Make Your Views Known

We invite you to complete a public survey being launched Monday by the City of London Corporation’s Recovery Task Force: www.givemyview.com/returntosquaremile 

The City of London Corporation has launched a Recovery Task Force which will provide a blueprint for how the Square Mile can remain internationally competitive and locally vibrant.  The mission of the taskforce is to ensure the Square Mile is the world’s most innovative, inclusive and sustainable business ecosystem, and an attractive place to work, live, learn and visit.

We have launched this survey to capture insights and views of residents, business owners, workers, students and visitors as we consider the future of the Square Mile. We want to hear from as many people as possible, from all backgrounds and communities, so please share among your colleagues, friends and network.

The survey will be live until 25 February 2021.

Posted on Broad Street Ward Interest, Wider City of London Interest

City of London Corporation’s Climate Action Strategy

Earlier today the City of London Corporation’s Court of Common Council voted to adopt the City of London Corporation’s Climate Action Strategy. This strategy breaks new ground and sets out how we will achieve net zero, build climate resilience and champion sustainable growth, both in the UK and globally over the next two decades. Continue reading →

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The Community Infrastructure Levy Neighbourhood Fund

The Community Infrastructure Levy Regulations require that 15% of CIL receipts should help facilitate neighbourhood priorities. In the City of London, regarded as a single neighbourhood, the City Corporation holds this fund and is required to seek the community’s views on how this Fund should be used.

The scope of the Neighbourhood Fund is deliberately wide and flexible, and includes the provision, improvement, replacement, or maintenance of infrastructure. This includes a broad range of facilities such as play areas, open spaces, parks and green spaces, cultural and sports facilities. It also includes anything else that is concerned with addressing the demands that development places on an area. Importantly, local neighbourhoods have the opportunity to choose where the money is spent according to their own needs.

From 1 September 2018 you can apply for funding easily.

How to apply:

If you have an applicable project in Broad Street Ward that fits the bill, then please apply via the City Corporation website here: https://www.cityoflondon.gov.uk/about-us/working-with-community/community-infrastructure-levy-neighbourhood-fund

If you wish the members to help, then please do send us the application too.

The minimum value for applications for funding is £1,000, and those under £50,000 will be processed by a panel of officers. Applications for over £50,000 will be considered by the City Corporation’s Resource Allocation Sub-Committee.

Applications should not normally exceed 15% of the total value of the available CIL Neighbourhood Fund at the time of application: updated information on can be found on the webpage.  There are however exceptional circumstances, as outlined on the webpage.

Larger projects of over £50,000 and up to 15% of the total value of the Neighbourhood Fund should meet the priorities identified in the City Corporation’s Regulation 123 List and should demonstrate how the project will deliver value for money, including through the identification of any contributory or match funding, including contributions in time or expertise.