A NEW scheme for funding Frome projects will start soon and looks set to give the public more power over which projects are given money by the town.
Crowdfunder Frome will change the way the council hands out grants in future and will allow residents to contribute money to specific projects.
The online scheme will supplement the town council’s annual grants and see half of its £50,000-per-year budget directed into the crowdfunder. It is hoped the public will donate to boost the amount available to hand out and show which projects are well supported.
Groups, organisations and events will now be able to bid for grants through the crowdfunding website and, when a project reaches a fundraising threshold, the town council will decide whether or not it will contribute.
Town councillor Mel Usher said, “This is a very innovative scheme. There are no other parishes doing it at the moment but I think there’s definitely scope for it to work in Frome.
“Plymouth City Council has used the idea and managed to turn a £60,000 budget into £300,000 in funding by allowing residents to add to the pot. Crowdfunding has already worked on individual schemes in Frome such as FRECo’s solar panels and Whatcombe Fields.
“We hope it will make the town council’s money go much further, and it will allow people to contribute to projects they are interested in and help them succeed.”
The scheme will be run through www.crowdfunder.co.uk which the council will pay £15,500 to set up and monitor the web page, as well as providing assistance to the council and to applicants.
Once a project reaches 25% of its total, Frome Town Council will consider whether to donate and will give a maximum of 50% of the target and no more than £5,000. Applicants will have a maximum of two months to reach their target.
The criteria for council contributions will be similar to those already used in the grants scheme. Projects that do not meet the criteria will not be removed from the site and will still be able to campaign for the money from private donors.
When the plan was agreed at a town council meeting on 21st September, concerns were raised about the suitability of the scheme for some groups.
Cllr Nick White said at the meeting, “I’m worried that some applicants might not have the backing that crowdfunders require, and that could influence our decision-making process which potentially could be unfair.
“Lots of organisations in the town probably haven’t got the internet savvy [needed for] crowdfunding, or their support base getting behind them to ensure they get sufficient funds to release the money from the council. I think we need to guard against that.”
“We do understand that the scheme might not be suitable for everyone,” cllr Usher said last week. “We are likely to keep handing out the regular grants we give to groups for ongoing costs, and to absorb that into the project.
“This isn’t definitely a permanent change and there will still be another £25,000 in the budget to give out as normal.
“Part of our agreement with Crowdfunder is that the company will be on hand to help people apply for the grants and understand the process.”
