Boris launches £50m fund for outer London projects
Projects that aim to revamp high streets in outer London could take advantage of a £50 million fund set up by the capital’s Mayor
Boris Johnson has opened the bidding process that will decide how the first slice of cash from the Outer London Fund is allocated.
He said the first of two rounds of funding - rolled out over three years - will prioritise projects that can have an impact on town centres, especially retailers, before the end of December this year. Up to £10 million is available and those chosen will get access to funds and advice straight away.
Johnson said the fund is intended to boost high streets and other local areas, such as parades of shops, in outer London. He told an audience that included borough council leaders at City Hall that he wants to improve life in these areas with noticeable changes to make shopping streets look more confident and economically viable.
Johnson said: ‘These are the very areas in London where everyday life takes place. We are talking about a vital shot in the arm for areas where people live; places people call home, communities they care about, where they go shopping, where their kids play and where they spend time with friends and families. Hubs brimming with local character, identity and full of aspiration, this is London’s collective beating heart.
‘With this fund we are able to address the historic neglect of the outer boroughs that preceded this mayoralty by kick starting stimulus for high street activity and growth. This is a significant pot of money to help projects really motor and I am delighted that we now have the means to nurture developments, increase work and leisure opportunities and make futures bright locally. This is a huge lift for the Cinderellas of the high street and I am confident that we will see a real buzz and vibrancy before Christmas this year.’