Councils in Lincolnshire are looking to set up a crowdfunding scheme to help raise money for local projects and community-based initiatives.
Boston Borough, East Lindsey and South Holland District Council, as the South and East Lincolnshire Councils Partnership, will invest an initial combined £34,000 into setting up the scheme with Spacehive.
If approved Boston and ELDC would contribute a further £30,000 to match-fund healthy community-based projects in their respective district. It is not yet clear if SHDC would do the same.
Boston’s cabinet and ELDC’s executive board will both discuss the plans at meetings next week, while SHDC’s own cabinet will vote later this month.
Reports before ELDC and Boston said: “Civic crowdfunding is becoming increasing popular due the numerous economic and social benefits it can deliver.
“Many local authorities across England have successfully used crowdfunding platforms to engage with local residents and businesses to develop projects and seek financial support group on-line pledges to match local authority contributions.”
They said crowdfunding in other areas showed a 250-300% return on investment for the community.
As part of the initiative the partnership would set up a Spacehive page later this year listing what funds are available and how much they are willing to match-fund.
Those organising community-based initiatives and proposals would set up their own project pages separately, including a breakdown of their budgets and targets.
Spacehive would verify the bids to ensure clear budgets and permissions are in place.
The projects could then pitch to the council, and other organisations such as the National Lottery, through the site. Projects can also be backed by general members of the public.
Authorities will monitor the project’s progress before making a decision.
More than 40 local authorities use Spacehive, including Cotswolds District Council.
A recently-100% funded project included a £21,997 amphitheatre in Chipping Campden, which the council gave £10,000.
For more information visit SpaceHive