The Tower Fund was set up by Tower Colliery and Hargreaves Services. Hargreaves Services teamed up with Tower Colliery, which is owned by a group of miners, to develop an opencast mining project which starts at Tower Colliery this spring. Over the next seven years, during the opencast mining at Tower Colliery, for every tonne of coal sold from the colliery 44 pence will be donated to the Tower Fund.
For every tonne of coal that is sold from the opencast mining at Tower Colliery, 44 pence is being put into a community fund - the Tower Fund – which is to be spent in the surrounding communities of Hirwaun, Rhigos, Penderyn and Penywaun.
The Tower Fund will add up to millions of pounds over the next seven years, making it a once in a lifetime opportunity to regenerate these communities and make them fit for purpose for the 21st century.
Anyone who lives in one of these four communities can apply for a grant from the Tower Fund. Grants will be available to support all sorts of community projects - big and small – from social enterprises and 'green' energy schemes to training opportunities and youth projects.
As part of its commitment to supporting communities in mining areas Tower Fund will also be creating a ‘Common Fund’. This will benefit other communities within the South Wales area and will receive 5 pence per tonne of mineral sold from Tower Colliery. This pot is a small grants scheme of up to a maximum of £2500
The first step for those interested in applying for money from Tower Fund is to complete an application form. This form will ask you to explain what you would plan to use the money for and how this would be of benefit to the community. If you find it difficult to put your ideas into words we can help you to complete the form. This application will then go in front of a local committee - made up of local people from your area. Once approved by the committee it is then sent to Meadow Prospect - this is the charity that has responsibility for distributing the money from the fund.
Tower Colliery and Hargreaves Services made a commitment, as part of its overall development scheme, to donate money to help local communities thrive. This first step is for each community to set up their community committee which will be responsible for looking at all applications for grants.
As part of its commitment to supporting communities in mining areas Tower Fund will also be creating a 'Common Fund'. This will benefit other communities within the South Wales area and will receive 5 pence per tonne of mineral sold from Tower Colliery.
The Tower Fund is forecasted - although it could be higher - to invest £3m over the next seven years. The finance is non-repayable. Grants will be gifted to the community to encourage regeneration and growth in the area. Recipients are expected to include social enterprises and green energy schemes to training opportunities and youth projects.
The Tower Fund Business Partnership has been set up to work together with organisations, linking them with the community to submit applications to the Tower Fund. This will have the benefit of both maximising the impact of the Tower Fund to the community and meeting the business and CSR (Corporate Social Responsibility) objectives of organisations.