Bradford City's successful 1996 application to 
European Community in Brussels to fund LETS
Applications for ERDF revenue support under Objective 2, Objective 5b 
and Community Initiatives should be submitted using this form. It will 
be necessary for each project to be supported by a fully documented 
Business Plan, or a project proposal providing a similar level of 
information. The Business Plan will need to show that without the 
assistance the project would not go ahead, would go ahead on a 
significantly reduced scale, or in the case of projects already 
started would cease. 
Name of Programme: Yorkshire and Humberside Objective 2 1994-1996
Title of project: Neighbourhood Local Exchange Trading Schemes
Applicant Name: City of Bradford Metropolitan Council
Address: Economic Initiatives Division, Bradford, BD1 5RW
Contact: Avril Austerberry
Position: Special Initiatives Manager
Tel/fax: 01274-753506/754428
Legal Status: Local Authority
Area: Bradford Objective 2 (Priority 6 area)
Place: Central Bradford
Outline description of project: 
     "The development of Local Exchange Trading Schemes (LETS) through 
the Priority 6 area, is a part of an integrated approach to community 
economic development which aims to bring about the regeneration of 
socially excluded communities. The idea behind LETS is to overcome the 
absence of finance and credit by encouraging people and organizations 
to trade skills, services and goods without needing to use the cash 
economy. The system works by developing a local directory of skills, a 
unit of exchange and a system of debiting and crediting the number of 
units in an account. LETS are community owned and help stimulate the 
local economy. This Project would build on existing LETS development 
work and would be targeting individual neighbourhoods within the 
Priority 6 area."
Explain the rationale behind the project:
     "The Priority 6 area of Bradford is home to communities who 
suffer long term social exclusion due to poverty and unemployment, and 
in some cases, discrimination. This has resulted in the loss of self-
esteem in these communities and, in some instances, a dependency 
culture. LETS is a mechanism for overcoming these barriers and 
provides one approach in assisting regeneration. 
     The success of LETS has been proved as it is running in largely 
one area of Bradford's inner city for the past 2 years. the system has 
over 200 members and has so far traded the equivalent of #12,000. It 
provides a framework by which the community can meet its economic 
needs and is particularly appropriate in areas of high unemployment 
where residents feel disenfranchised from the conventional economic 
State how the project meets of the objectives of the Programme? 
     "By the development of local community economic activity.
     Long term creation of employment opportunities.
     Building local capacity to respond to opportunities."
Which measure and priority: "Priority 6 Measure 21"
Period of Project: "April 1, 1996 - March 31, 1998"
Who will deliver project?
     "City of Bradford Metropolitan Council, Economic Initiatives 
Division will deliver the Project through its Community Economic 
Development Team. Business Links, along with all other local 
consultees, support this proposal." 
What experience have you delivering this type of project?
     "The Council has supported and participated in the existing LETS 
scheme over the last 2 years. It also has a proven track record in 
delivering a wide range of Projects, including many funded through 
European finance." 
Give details of links with existing projects:
     "It is an extension of an existing project which has clearly 
defined parameters, but will be focused on those Priority 6 areas in 
which this initiative is currently absent, but which would benefit. It 
has never received ERDF funding. It links with the Council's "Areas of 
Stress" document, and the District's Community Economic Development 
Strategy and Anti-Poverty Strategies." 
Examples of the type of costs (labour, rental, etc): "#55,700."
Applicant's own funds: "#27,850."
Proposed funding: "#27,850."
Please specify performance measure:
     "Number of LETS schemes established: 4
     Advice Sessions provided: 16
     Training hours provided: 400
     Number of members participating: 600
     Number of volunteers recruited: 30 
     Value of trading achieved: #40,000"
How to monitor effectiveness of the project? 
     "Membership to increase.
     Volume to trading.
     Number of new businesses created.
     Number of people accessing training.
     Number of people accessing employment.
     Impact of the social benefit in communities.
     Monthly monitoring by EID Management, Quarterly Review"
Give milestones: 
     "2 new LETS schemes established by 31.03.97
     4 new LETS schemes established by 31.03.98."

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