£20 million funding opportunity for Newark, including Balderton

The Ministry of Housing, Communities & Local Government (MHCLG) published guidance relating to the 10-year funding programme for Neighbourhoods on Tuesday 4 March 2025. The Plan for Neighbourhoods scheme is a £1.5 billion programme introduced to invest in 75 local areas over the next decade, as a long-term strategy to fix the foundations of those places most left behind.

The scheme builds on the previous Long-Term Plans for Towns programme, with a new set of strategic objectives to kickstart growth, giving communities greater flexibility as to how and what they can deliver. The Plan for Neighbourhoods is designed to drive growth over the long-term, helping to bring people together, and encourage thriving places and stronger communities.

The scheme will require ‘Neighbourhood Boards’ to work closely with the Local Authority and communities over the coming months to develop Regeneration Plans for the area. Plans for an initial four years of investment will need to be submitted to MHCLG by Winter 2025, with delivery funding set to commence in April 2026.

Newark and Sherwood District Council’s role will be to oversee the Regeneration Plan, working in partnership with Neighbourhoods Board to manage local uses of funding.  

Councillor Paul Peacock, Leader of Newark and Sherwood District Council, said: “I’m delighted that Newark including Balderton, have been invited to submit Regeneration Plans for up to £20 million each to invest in local people’s priorities. 

“We are currently awaiting further guidance from Government relating to the scheme and we will then support the preparation of proposals to meet the focus towards thriving places and stronger communities.

“Additional investment in our towns is absolutely vital to ensure long term sustainability and we are committed to ensuring that we do all we can to achieve this. We will continue to identify any opportunity to apply for additional funding to support all areas of our district.”