The amount of funding available varies and is dependent on the amount of Grant-in-Aid (GiA) and the level of contributions from other partners. The application process is lengthy (around 18 months) and requires the Lead Local Flood Authority to submit the bid on behalf of the community with their support. Although it is possible to […]
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 confirm that any such measures have been installed correctly. The insurance company will probably require confirmation of correct installation. The extent of reduction and […]
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). […]
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 […]
Councils can hold a referendum to increase council tax to raise funds. For example, Gloucestershire held a local referendum to allow council tax to be increased to raise funds for investment in additional drainage and maintenance work after the 2007 floods. Cockermouth residents also agreed to pay an extra levy on their Council Tax over three […]
In order to gain funding from a variety of sources you may need to become a Community Interest Company (CIC). The level of community involvement varies, some CICs depend on the input of the community whereas others undertake actions on their behalf. Case Study Example: A community-led partnership was formed by Bucklebury residents with support from […]
Property owners who have equity within their properties can release this money through extending their current mortgage or taking out a new mortgage. The money can then be used to fund property level flood resilience measures. Equity release can be in the form of an additional income, a cash lump sum, or both. The Money […]
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.
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.