A further £20 million will be made available to colleges through an Enhanced Renewal Grant. Colleges will have the opportunity to add to their Renewal Grant, by bidding to build their total allocation to £1 million. Colleges will be expected to attract additional private finance, providing final projects of significant value.
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Further Education, Skills and Lifelong Learning Minister John Hayes, said: "We want to make sure as many colleges as possible can benefit from this additional funding we are offering them. The £50 million we are investing in colleges will make a real difference to college campuses throughout England.
"Colleges are an invaluable resource for individuals and can enrich lives and communities by providing courses and training vital to employers, business and the economy.
"Many colleges up and down the country are still reeling from the effects of problems seen last year in the capital investment programme, which saw a Review by Sir Andrew Foster criticise ‘failures in the general management and financial management of the Learning and Skills Council."
The college submitting the bid cannot have received more than £5 million of funding for building projects in the past from the Skills Funding Agency (formerly the Learning and Skills Council). The bid also needs to show that the building project can be completed by September 2011.
(CD/GK)
