Swansea
Print Workshop @
Kings
Lane Warehouse
now viewing: Kings Lane Warehouse / The New Building / Funding
 |
 |
 |
Funding
Arts Council of
Wales
The Arts Council of Wales (ACW) is currently undergoing changes, but are
obviously committed to the project, however with their support of the
Glynn Vivian development it is unlikely that they will be able to
provide the whole amount. Based on their commitment to the Glynn Vivian
Scheme of £1.5 million in an £8.5 million project SPW may receive up to
£800,000 towards the development of the Kings Lane Warehouse
Swansea City
Council
Swansea City Council may be able to provide some match funding for the
project and this may mean the difference between success and failure.
It is important that the project is part of any strategic policies and
project proposals that they are developing and putting forward to the
Assembly and Europe.
European Funding
The proposed development at Kings Lane is within the new Convergence
Fund area (the previous Objective 1 area); the programme runs from 2007
until 2013. These funds are related to business and competitiveness and
particularly the proposed priorities are:
- Knowledge & Innovation for growth
- Creating an attractive business environment
- Building sustainable communities
The Kings Lane development would meet some of these priorities and is strengthened by its inclusion in the proposed creative cluster for Swansea (see next section). Unfortunately, meeting more than one priority does not mean that you are more likely to receive funding as they are separate priorities, criteria and budgets that are each assessed separately.
At this point the project seems to fit within the building sustainable communities priority, but this needs to be monitored as although the UK government has submitted the Convergence Programme, it has yet to be approved and it is unlikely that any applications or money will start to flow until 2008.
National Assembly
for Wales – Creative Industries Hub
A feasibility report on creating a Creative Cluster in Swansea was
produced last year (by Newmedia Partners). This examined Kings Lane and
the adjoining Swansea Housing Association (SHA) development.
Subsequently the creative industries hub within the Assembly have
submitted a Creative Industries Strategy internally which includes the
Kings Lane project as part of the overall clusters proposal to go
forward for support using European money matched by the Assembly.
The proposed Swansea Housing Association Creative Cluster development includes 15 offices for creative companies and they have already got companies lined up to move into them. They are also looking at developing space for research and development and recent graduates.
Business
Finance/Finance Wales
As a community/creative business there are a number of business finance
initiatives. Finance Wales (already European money) has a Creative Wales
IP Fund which only funds music, film, new-media and TV at present,
however the overall project may fit into some of the priorities. They
also have a community loan scheme but these are loans not grants, but
low interest and form part of the package which usually includes
investment from the ‘business’.
Private
Sponsorship/Fundraising
Usually whatever
grant or funding is received, partnership or matching funding is
required, generated by the Kings Lane Company or from a private
sponsor. The cost of the building may be able to be used but it is
worth looking at other companies in the area that may put up some money