Issue - meetings

To provide an overview of the first two years of the South and East Lincolnshire Crowd Funding Scheme (report of the Assistant Director – Housing and Communities enclosed).

Consideration was given to the report of the Assistant Director – Housing and Communities, which provided an overview of the first two years of the South and East Lincolnshire Crowdfunding Scheme.

The Deputy Leader introduced the report and reiterated that this was a 2 year progress report on the Crowdfunding Scheme, which was known as the South and East Lincolnshire Councils Crowd.

He advised that the South and East Lincolnshire Crowdfunding scheme had launched in Spring 2023 and the innovative platform enabled community groups to raise funds for their projects, fostering community involvement from the outset.  The Deputy Leader added that without the buy-in and contributions from the community, those projects would not be able to proceed. 

The Deputy Leader advised that currently projects were eligible to up to £5,000 from the South Holland pot while also crowdfunding for the remainder of their project costs.  He noted that as set out in the report the scheme had supported 15 projects across the partnership with a total value of £149,887, of which £77,117 had been contributed by the crowd.  The Deputy Leader informal those present that this demonstrated a strong return on investment. 

The Deputy Leader advised members that as they could see from the Impact Report, the scheme had performed well against its original targets and outcomes which had been set.

He added that with the South Holland funding pot exceeding the financial target set out of a return of £3 for every pound, the scheme saw a return of £5 for every £1 contributed alongside overall achievements of improvements to community buildings, new events, increased community engagement and an increase in Volunteer opportunities

The Deputy Leader explained that South Holland had seen a number of successful projects over the past 2 years including support plans for the refurbishment of the museum of Spalding Gentleman’s Society, Taste It Lincolnshire which was an arts theatre production and a dog play area in Tydd Saint Mary.

It was added that further details of these and all the successful projects could be found in the attached Impact Report in Appendix A.

It was acknowledged that further work was required in relation to publicity and in raising public awareness. It was also noted that individuals may require additional support when engaging with crowdfunding initiatives. For further guidance or assistance, interested parties were encouraged to contact the Assistant Director – Wellbeing and Community leadership.

DECISION:

That the progress of the South and East Lincolnshire Councils Crowdfunding scheme be noted and that its continuation by Members be supported.

(Other options considered:

·                     Draw the current scheme to a close (not recommended) and not offer financial support to local community and voluntary groups raising funds for projects.

Reasons for decision:

·         To continue to raise funds for local voluntary and community groups across South and East Lincolnshire via the South and East Lincolnshire Crowdfunding scheme for local projects.

·         To further support Voluntary and Community groups within South Holland to raise funds for local projects).