What is the fund?
A new £10million fund to help groups from across Belfast deliver capital projects in their neighbourhoods was open to applicants in early 2022.
The Neighbourhood Regeneration Fund (NRF) aims to help groups deliver physical development projects that will make a real, long-term difference in their communities.
Projects must fit within one or more of three themes:
- social economy
- environmental sustainability, or
- neighbourhood tourism
The fund is now closed to applicants, and we are reviewing all the submissions. Councillors will make a final decision on which projects receive funding.
What projects can be funded?
The fund is for capital projects only. The list below gives an idea of the type of things that can be funded, but it is not exhaustive. It can be used to fund the capital costs of:
- building and engineering works needed to deliver the project (for example, new build, extension, refurbishment, modernisation or conversion).
- plant and equipment necessary for running the project.
- purchase of land, buildings, equipment or fixtures and fittings that are linked to the project.
- professional fees associated with capital spending on the project, including project management and legal fees.
The Neighbourhood Regeneration Fund is our fresh approach to physical regeneration across the city. Its themes are directly linked to these strategies:
We will use an Outcomes Based Accountability approach, or OBA, to monitor the impact of the fund. It measures effectiveness and impact by answering three questions: How much did we do? How well did we do it? Is anyone any better off?
Timescales for delivery
There is a three-stage application process, with projects only guaranteed funding if they progress to the third and final stage. Details of each stage of the application process were included in the original application packs.
We hope that decisions on the projects that will move to stage two of the process will be taken in autumn 2022. It is then anticipated that decisions on projects that will move to the third and final stage will be taken in spring or summer 2023.
Work on individual projects will get underway from mid-2023 onwards, with most projects likely to be completed within 12 months, depending on their complexity and scale.
More detailed timelines for the delivery of each project will be included in the final funding agreement.