Capital Funding

The LSC has announced a programme for 2008-09 building on a model pioneered by LSN in the Molenet project for colleges last year. NIACE has been asked to develop a plan which involves a financial partnership with providers.

Quite simply, providers who apply for capital funding will be asked to commit to pay NIACE a support fee equivalent to 10% of the value of the capital received. For example, in return for a grant of £30,000 a provider will pay NIACE a support fee of £3,000. The support package will include documentation and access to advice and guidance along with an online community and a dedicated online conference and a consultancy day.

Full details are not available until April 2008 but I will keep you posted.