Capital Funding to Improve Further Education Buildings
The Department for Education (DfE) has launched the Further Education Capital Transformation Fund (FECTF) to give Further Education (FE) colleges the opportunity to bid for investment in capital projects that address the upgrading of their FE estate.
The programme delivers the government’s £1.5 billion commitment made at the Budget 2020 to upgrade and transform the FE college estate over the next five years.
Applicants should consider how all available capital funding routes will best meet the needs of their estates and their future curriculum plans. For example, if the project proposals develop estate for the purpose of delivering T Levels or an Institute of Technology, as well as addressing condition need, the applicant will need to consider the other relevant funding streams in addition to the FECTF.
Eligible applicants must be:
Institutions established as a further education corporation under the Further and Higher Education Act 1992 (FHEA 1992) as amended (FE corporations); or
Designated institutions for further education established under section 28 of FHEA 1992.
All colleges will be required to have an estates strategy linking project plans for the estate to the college’s wider business strategy.
The FECTF has a minimum threshold of £500,000 per project (excluding recoverable VAT but including both FE college match funding and FECTF). There is no upper threshold for bid applications, but the department reserves the right to scale down and approve funding requests in whole or part, having regard to value for money considerations and the availability of the FECTF.
Stage 1 applications must be submitted by 15 March 2021.
More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news and policy. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.
