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Town Deal Fund


        

In September 2019, the Government invited 101 places across England to each apply for up to £25m funding. This funding is to encourage economic regeneration across the regions. Read further information on the town fund prospectus.

Town Fund Prospectus

Four of the places identified as part of this initiative are towns in Cornwall:

  • Camborne
  • Penzance
  • Truro
  • St Ives

The focus of the regeneration is on

  • Urban regeneration
  • Planning and land use
  • Skills and enterprise infrastructure
  • Connectivity (both physical and digital)

In September 2022, the UK Government released the first £18.3m of the £88.7m Town Deal funding to deliver regeneration plans, boost the economy, revitalise town centres and improve the connectivity of the four areas. Find out more about the announcement of the first stage of funding in Cornwall. 

Cornwall Council, as local programme lead, has now been allocated the first instalment of the Town Deal funding for 2022-23 and is in the process of issuing grants funding agreements to the organisations leading on the projects.

The Town Deal funding allocated to Cornwall will support over 30 projects, to be delivered by a variety of private, public and voluntary organisations, across the four towns by March 2026.

A Town Deal is an agreement in principle between government, the Lead Council and the Town Deal Board. It sets out a vision and strategy for the town, and what each party agrees to do to achieve this vision. Cornwall Council is the Lead Council for the Town Deals programme in Cornwall.

Each of the four towns has established a dedicated Town Deal Board, comprising representatives from;

  • Government
  • Cornwall Council
  • Town/Parish Council
  • Other stakeholders from local business and enterprise

Town Investment Plans

Following the launch of the Towns Fund by Government, the Town Deal Boards submitted their Town Investment Plan in January 2021. The Town Investment Plans outline the projects that each town wishes to implement. This is in consideration of their specific requirements for growth and regeneration.

The Town Deal Boards consulted with residents and businesses and worked in collaboration with Cornwall Council to create their Town Investment Plan

Please find a link to the Town Investment Plans below.

Timeline

In the summer 2021, following the review of the Town Investment Plans the Government announced up to £88.7m Town Deal funding to Cornwall.

As a result, the projects listed in the four Town Investment Plans were asked by the Government to submit their individual Business Case to Cornwall Council.

A business case provides further details on the project before it can be approved, this includes its costs, how it will be managed and its impact. A Business Case is used to demonstrate that the project is feasible and financially viable. As Lead Authority for Cornwall, Cornwall Council’s role is to assess each project’s Business Case. Once approved the Town Deal Boards review and sign off the final projects.

Following this process, the Government reviewed the Business Cases submitted and in September 2022 approved an initial 30 projects across the four towns, releasing the first £18.3m of the £88.7m Town Deal funding to Cornwall Council.

Cornwall Council started issuing the Grant funding Agreements in November 2022 to allow projects to progress with their next phase of delivery.

The projects put forward in each location vary in size and complexity. Consequently, they will be delivered at different pace until the end of the Town Deal funding programme in March 2026.

A number of projects are currently in the process of securing additional funding to match the Town Deal investment. Others are working on submitting planning applications or recruiting staff and contracting builders. Further public consultations will take place during 2023 and will be advertised on the Town Deal websites. 

You can find more information about each Town Deal by visiting their dedicated websites below:

Visit Camborne Town Deal website

Visit Penzance Town Deal website

Visit Truro Town Deal website

Visit St Ives Town Deal website

Grants for Businesses

As part of the Town Deals programmes, a number of business grants are now available across Camborne, St Ives and Penzance for a range of capital investments. Find out more about the eligible costs, value of the grants and how to apply on their respective webpages ( see links below)

Grants for businesses in Camborne

Camborne Business Improvement District leads on the Project Avoid-2 as part of the Camborne Town Deal programme– Applications for the Round 2 of their business grants is now open for application. Find out more here: Camborne BID

Grants for businesses in Penzance

Cornwall Council is leading on the Enterprise Grants Fund as part of the Penzance Town Deal Fund programme– Applications are open for applicants seeking larger grants (between £50,OO1 and £250,000). Find out more information on how to apply here: Penzance Town Deal Enterprise Grants

For applicants seeking grants between £2,500 and £50,000, applications will re-open in the early autumn 2023. If you wish to register your interest for the reopening of round 2 for small and medium grants please email grants@cornwall.gov.uk

Grants for businesses in St Ives

Cornwall Council is leading on the Enterprise Grants Fund as part of the St Ives Town Deal Fund programme.

For applicants seeking grants between £2,500 and £50,000, applications will be open between Tuesday 09 October 2023 and 06 November 20203.

Start a Grant ApplicationIf you have any queries please email grants@cornwall.gov.uk

For applicants seeking larger grants (between £50,001 and £150,000) applications remains open. Find out more information on how to apply here: St Ives Town Deal Enterprise Grants

Town Boundary Maps

All Town Deal Board members have signed up to a code of conduct. This is based on the Seven Principles of Public life (the Nolan Principles).

Each Member of the Town Deal Boards is required to provide a Declaration of Interest form, these are available on request. Members also declare interests at the beginning of each Board meeting, this information can be found within the Board meeting minutes.

View the Seven Principles of Public Life

Town Deal documents

Publicity and Branding Agreement

Please see below for documents relating to the town deal including:

  • codes of conduct
  • terms of reference
  • agenda
  • minutes

 

Last Updated:

20/10/2023

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