£30,000 funding from developments announced for Charlton’s Swan pub reopening
A number of projects across Greenwich borough are set to receive funding using revenue derived from new developments across the borough.
Community Infrastructure Levy income is paid by the square meter on most new developments and a fund to raise money to buy The Swan pub in Charlton is set to see £30,000 according to documents recently uploaded to Greenwich Council’s website. A campaign is seeking to raise £360,000 to buy the pub.
In total £1,008,987 is to be spent across the borough.
By law at least 15 per cent of CIL revenue has to be spent on local projects though some councils go above that to 25 per cent. Greenwich stick with 15 per cent and brand it as the Greenwich Neighborhood Growth Fund. Most councils have their own brand name for the same thing.
The remaining 85 per cent is used for strategic projects normally of higher cost.
Dozens of projects
The list of projects is extensive and includes money for James Wolfe school in Greenwich, park upgrades in Eltham, a skate park in Abbey Wood, a bird sanctuary in Shooters Hill and dozens more. I’d be here all day listing them.
Go take a look.
Funding for numerous projects as well as money for bigger schemes via the strategic element of CIL is a reason I’ve been banging the drum on this site for many years on why Greenwich Council could have improved and reformed rates to benefit the borough.
Having to use CIL funding to pay for Woolwich Elizabeth line station fit-out costs certainly didn’t help but it was far from the only issue. Greenwich council in their wisdom decided to implement a very low CIL rate back in 2015 at a level far below was a Viability Report at the time stated was possible, particularly in prime areas.
That meant income came in at a trickle and the station cost took far longer than it should have, limiting funding for other projects.
Now more cash is finally coming in though just in time for Mayor Sadiq Khan to announce he is looking to limit CIL rates payable to councils, ensuring funds for projects may be reduced in coming years.
It will be nice to see the old White Swan Pub building purchased and fully refurbished inside and out.
The White Swan is a part of Charlton villages history alongside the Bugle Horn
Sadly the White Swan Pub was not always run well and saw some problems over the years which did not help the venue. Sadly it was eventually closed for good. Seeing it being reopened would be excellent for local residents and visitors to Charlton.