IGNITE starts up new “Climbing the Money Tree” project

Growing Regional Community Fund backs IGNITE’s “Climbing the Money Tree”

This new project from VANEL and the IGNITE team will aim to support young people aged 16-30 to develop financial management skills as they move into their first rented/social housing/student accommodation, to better retain and sustain tenancies.

Grimsby based young community leaders programe IGNITE, delivered by Voluntary Action North East Lincolnshire (VANEL) are starting a new project. “Climbing the Money Tree” is one of 40 projects awarded a share of over £200,000 grant funding from a regional fund supporting local communities throughout Yorkshire and Humber in time for Christmas.

Competition for funding was tough.  Social housing consortium Efficiency North’s EN:Able Community Investment Fund received over 90 applications for a total of nearly £411,000. Bids were received from a diverse range of excellent projects working to support the communities of social housing landlords throughout the region. Now in its sixth year of operation, the EN:Able Community Investment Fund has given a total of over £600,000 overall.

“Climbing the Money Tree” aims to support young people aged 16-30 to develop financial management skills as they move into their first rented/social housing/student accommodation, in order to better retain and sustain tenancies.  In the current climate many young people are struggling financially with sparse opportunity for education within schools to assist basic understanding of day to day budgeting.  Working with local housing groups including Shoreline Housing Partnership (SHP) who recognise the impact this and low incomes have on young people accessing housing and sustaining tenancies, we will hopefully prevent some longer term problems young people may encounter if they were to get into financial debt.

The EN:Able Community Investment Fund is generated through Efficiency North’s procurement frameworks for construction and maintenance schemes for social housing.  The Fund is targeted at local projects that are sustainable over the long term, provide local employment opportunities, encourage self-sufficiency and that will also provide long term benefits for the wider local community, reflecting the 4 strategic aims of Efficiency North’s vision.

The fund will open for its next (seventh) round of applications in August 2018.

IGNITE project lead Jenny commented “We’re so pleased to have received this money which will help us develop on work we began as a trial three years ago and we unable to continue due to lack of funds at the time. The trial at that time showed how much this support was needed and now with Universal Credit coming in and other changes in society that affect young people and their cash flow, now is a wonderful time to rebuild and develop this much needed work.”

Efficiency North’s Social Value Manager Paul Mitchell commented: “The standard of applications was again impressively high this year, with strong competition for much needed cash from excellent local projects. Efficiency North generates funding through our professional services for social housing landlords.  We’re very proud that our work has seen the funding pot grow year on year and that in 6 years we’ve trebled the total we’re able to offer.  The people making a real difference in their communities, in so many ingenious ways, are vital to the region’s social and economic growth.”

For more information about the fund and a list of all 40 projects backed this year please go to: http://www.efficiencynorth.org/what-we-do/community-investment-fund/

For further information

For more information about Climbing the Money Tree please contact Jenny Hodson on 01472 231123 / 315437  or jenny@vanel.org.uk

Background information about Efficiency North and the EN:Able Community Investment Fund

Efficiency North is an award-winning collaborative consortium of social housing providers working together in a culture of collaboration, benchmarking best practice and peer knowledge sharing to generate efficiencies in the construction supply chain and provide intelligent procurement solutions for Yorkshire, Humber and the wider region.

The consortium’s vision is to work together with members to support their priorities and aspirations for their tenants and wider communities and to maximise its positive impact in 4 key areas: Efficiency, Workforce, Communities, and Sustainability.  All savings and any surplus made by the consortium are reinvested in local communities through the EN:Able Communities CIO with the aim of creating training and employment opportunities and improving local facilities.

The EN:Able Community Investment Fund  is one of the consortium’s delivery vehicles for social and economic regeneration in the communities of its member organisations. A Panel composed of EN member landlords’ tenant representatives and EN frameworks’ contractors evaluate all applications against an agreed framework reflecting the consortium’s 4 core strategic aims.  The Panel’s decision is then ratified by the Board of Trustees of Efficiency North’s charitable giving arm, the EN:Able Communities CIO.