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Colleges to bid for slice of £50m funding pie

Colleges can bid for a slice of £50 million for facilities, now that the Department for Business, Innovation and Skills has released details of a new scheme.
Colleges to bid for slice of £50m funding pie
Some 150 FE colleges, yet to benefit from the government's capital building programme, can now bid for £225,000 under the £30 million Renewal grant, announced by the new government last month.

An additional £20 million will be available for colleges to bid for under the Enhanced Renewal grant.

In total, the colleges could each be eligible for up to £1 million in funding.

Criteria have been set for colleges wishing to submit a bid and these consider: the condition of the college and its facilities, the benefits to learners and benefit to the regeneration of local communities. The colleges will be expected to attract additional private finance. The bid also needs to show that the building project can be completed by September 2011.

The Skills Funding Agency (formerly the Learning and Skills Council) will allocate funding. Colleges submitting bids must not have received more than £5 million of funding for past building projects from the (LSC). In 2009, the LSC ran into trouble when it ran out of money and could only fund eight of the 79 college projects it had approved funding for.

Minister for Further Education, Skills and Lifelong Learning John Hayes said: 'The £50 million we have put on the table will make a real difference to college campuses throughout England'.
23 June 2010

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