Town Centre Recovery Fund

Town Centre Recovery Fund

The page offers details of the Stapleford Town Centre Recovery Fund project, part of the Stapleford Town Deal programme.

Some key information from the Town Centre Recovery Fund (TCRF) is summarised under the following headings:

Further details are available in the 'Guidance for applicants' and 'Policy' documents, both available in the Associated Application Documents Section below. 


Fund Overview

As part of the successful development of the Stapleford Town Deal Programme, a total of £1million has been allocated for the Town Centre Recovery Fund project.

The fund will open to applications in January 2022 and is planned to close on 30 November 2022, with final payments made by 31 December 2022. There will also be a temporary closure of the fund in line with the end of the 2021/22 financial year for approximately two weeks.

The fund will offer grant support to high street businesses in Stapleford Town Centre, and will be split into two grants to support different aspects of business recovery:

  1. The Business Continuity Grant aims to support business resilience and growth over the long term, sustaining occupancy levels within Stapleford Town Centre. This grant will support existing businesses looking to expand the way they distribute their services. It is anticipated a maximum of £200,000 will be spent on this portion of the wider Town Centre Recovery Fund.
  2. The Building Development Fund is to create buildings of the future; improving accessibility, energy efficiency and the look and feel of Stapleford Town Centre. It is anticipated a maximum of £800,000 will be issued through this part of the fund.

How much will be made available?

Business Continuity Grant (BCG)

Strand A

Grants of up to £5,000.

Strand B

Grants of between £5,001 and £20,000. Businesses will be required to provide a 30% co-funding amount through Strand B. For example, to receive a grant of £10,000 a business will need to provide evidence of co-funding of £3,000 within their proposals.

Please note it is not possible to receive multiple BCG awards, i.e. from both Strand A and B

Building Development Fund (BDF)

Strand A

Grants of up to £20,000.

Strand B

Grants of up to £100,000. Businesses will be required to provide a 30% co-funding amount through Strand B. For example to receive a grant of £50,000 a business will need to provide evidence of co-funding of £15,000 within their proposal.

Please note it is not possible to receive multiple BDF grant awards, i.e. from both Strand A and B

The improvement of vacant commercial units can be considered as part of an application to the BDF.  

Eligibility for grant support

  • A business must be registered. This can take the legal form of sole trader, partnership, limited company or social enterprise/CIC (Community Interest Company).
  • Businesses need to be located within the Stapleford Town Centre boundary as defined in the Part 2 Local Plan.
  • The grant must be spent on new investment and cannot cover any retrospective costs.  Any expenditure prior to the awarding of a grant is ineligible.
  • Applicants can apply to one strand of each grant fund.

What a grant may cover

Town Centre Recovery Fund grants may cover costs including:

  • Capital assets such as plant, equipment or machinery. N.B vehicles, stock and consumables are excluded;
  • Office equipment, furniture and the purchase and installation of computer systems;
  • Security equipment and installation;
  • Shop fitting and improvements to shop fronts, including refurbishment to interior;
  • Advertising and marketing costs including website design;
  • Temporary click and collect adaptation;
  • Building fabric improvement and expansion;
  • Remediation of abandoned or dilapidated units.

Town Centre Recovery Fund cannot cover

  • Rental costs of units and associated bills;
  • Business rates for premises or applicants for planning permission;
  • Stock and consumables;
  • Running costs;
  • Retrospective costs

Associated Application Documents

The following documents have now been published in advance of the Town Centre Recovery Fund launch:

Businesses in Stapleford Town Centre will need to consult the above documentation in order to properly develop their proposals for grant funding, understand an interpret the Town Investment Plan (TIP) and seek quotations (where applicable) to carry out works in good time.

How to Apply

The Town Centre Recovery Fund is now officially open. Using the documentation above as a guide, businesses can develop and submit an application.

To make an application, businesses must use the - Online Town Centre Recovery Fund Application Form (Opens in a new window).

Next Steps

Once an application has been received, the Council will directly contact the applicant to provide more information to support the application where necessary. Larger grant requests, such as those in strands B, will require more detailed supporting information. This may include but is not limited to:

  • further detail on their proposals;
  • provide itemised costs for those proposals, with written quotes for grant requests over £2,000;
  • economic outputs as a result of any investment - such as jobs created/safeguarded, new floor space created or new DDA improvements;
  • how the proposals link to the Stapleford Town Investment plan;
  • the business need for grant support;
  • provide a business plan, to include a cashflow forecast.

The Council will inform the applicant in writing of the outcome of their application as soon as possible, and within 28 days to confirm receipt of the application and any supporting information being received.


Contact
Town Centre Grants