Policy

3 April, 2007

Futurebuilders Fund put out to tender

Cabinet Office seeks partner for second phase

The Cabinet Office today announced that it will tender for a partner to deliver the second phase of the Futurebuilders Fund programme that provides investment for third sector organisations delivering public services.

The Office of the Third Sector (OTS) will tender a new contract that will run from 2008 to 2011, after The Chancellor of the Exchequer announced changes in the eligibility criteria, during his Budget speech, to enable a broader range of third sector organisations to benefit.

Campbell Robb, Director General of the OTS, said -

'Futurebuilders has proved to be an innovative and ground-breaking response to the sector's desire for loan-based finance to support their ability to deliver impeccable public services.

As the initial phase nears its conclusion, the Fund must evolve and build on the lessons of experience to date so it can continue to enhance the third sector's ability to transform people's lives.'

The OTS hopes to identify a partner who, in accordance with the Fund's current aims and objectives, will -

  • Manage the remaining funds allocated by Government to the Futurebuilders Fund;
  • Be responsible for the assessment of applications for new loans and grants and for their subsequent management; and
  • Manage all existing loans, grants and loan guarantees, projected to have a value of approximately £150m by March 2008.

The Cabinet Office does not expect existing Futurebuilders recipients to be affected by this process.

NB - The current contract holders Futurebuilders England Ltd welcomed the continuation of the Fund for a second term and pledged to bid to run it. Richard Gutch, Futurebuilders England's Chief Executive, said -

'We are delighted that the Futurebuilders Fund is going to continue for a second phase. The commitment from Government to extend the programme shows that the Futurebuilders model is proving to be successful. It’s great news for the sector, public services and organisations looking to access alternative loan funding.

We intend to bid to deliver the second phase of the Fund so we can continue the good progress we have already made, and we are confident that Futurebuilders England Ltd is in the best position to win.'

Source: Government to tender for delivery of second phase of Futurebuilders Fund - Cabinet Office.

More information about Futurebuilders policy programme and the Futurebuilders Advisory Panel is available here. 

For more background information see the related rightsnet policy news stories -




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