There are numerous ways that communities can raise funds from small events which can be labour intensive but can turn around money quickly, for example lotteries, raffles, fairs, street parties, bazaars, afternoon teas, car boots, street fairs, fetes and sponsored events (swims, walks, pub crawls, etc). Large events can be complex to organise but can generate significant amounts of money, including bike rides, fun runs, dinner dances, gala balls and other fundraising events.
Defra Forestry and Farming Improvement Scheme
Applied for by individual farming, forestry and horticultural businesses. Grants of £2,500 to £35,000 available but funds are for between 15% and 50% of the total costs dependent on location.
If you would like to discuss a potential application, or for further advice on the application process, please contact the Forestry and Farming Improvement Scheme helpline on: 0300 060 4761 or email them at: FFIS3@defra.gsi.gov.uk
Reaching Communities Fund
This Big Lottery Fund covers equipment costs, building and engineering works, purchase of land and equipment and legal fees. Community groups must apply for the funds, which are a minimum of £10,000. This fund does not cover routine repairs, maintenance or general improvement to public areas.
This needs to be led by the local community and aims to benefit the whole community. The grant size is variable but is likely to be less than £10,000.
Community Development Finance Institution (CDFI)
This is a loan granting mechanism. Community Development Finance Institutions provide loans where banks have refused credit. Their website lists loan providers who consider individuals, businesses, charities or social enterprises. The level of funding provided depends on individual circumstances. Funds can be released quickly.
CEMEX Community Fund
A community group has to apply for this fund. The project seeking funding must be located within 3 miles of a CEMEX operation and 10 miles of a landfill site. Grants are available for £1,000 to £15,000.
A Charitable Trust can be established with the specific purpose of dealing with and managing contributions for a particular cause or project. The Trust does not procure funds, but it is a mechanism for obtaining, holding and administering funds. Funds can be collected from the community/general public and is administered and allocated by the Trust. The community members will need to set up the Trust, involving substantial time and commitment. The Trust would then need to raise the funds required and long-term involvement would be needed.
Insurance premiums may be reduced by installing resilience measures to minimise future flood damages. A flood risk mitigation survey can be undertaken to identify which measures could be used and also to confirm that any such measures have been installed correctly. The insurance company will probably require confirmation of correct installation. The extent of reduction and involvement varies by insurance company.
Business Improvement District (BID)
Your Local Authority will need to assist you with setting up a Business Improvement District. Money is collected through a levy on business rates in the area. A BID is only valid for 5 years. It can take up to 2 years to set up a BID and has high initial costs (£100,000 to £500,000).
The levy funding can be used to lever further funding, for example, from public bodies. Funding could potentially be put towards a flood scheme to decrease risk to businesses and so improve trading conditions.
Community Infrastructure Levy (CIL)
CIL is a levy which local authorities can attach to new developments. The money can be used for infrastructure including flood defences. District councils will need to set up and charge the levy; however they also have responsibility for deciding what infrastructure the levy is spent on. Funds must be spent within the area from which they were raised.