£900,000 super fund to kickstart projects

A £900,000 fund to launch co-operative schemes across the borough could soon be up for grabs.

Councillors agreed to pull together the cash lying unused in accounts — following the dissolution of the schemes the accounts applied to.

The £657,021 identified will be boosted by £250,000 from the council.

The fund will be managed by Voluntary Action Oldham and should up open by Valentine’s Day.

Council leader Jim McMahon said: “This is an efficient way to pool money. It’s fantastic news.”

Councillor Brenda Brownridge added: “Quite a lot of funds haven’t been used for donkey’s years. We can use that money to kickstart co-operative projects.

“This won’t be a one-off thing. There will be an opportunity to raise money and pay into it. It will help people get back into work and generally improve the borough. It is something really positive we can do to make a difference.”

The money will be pulled from 55 former charity funds, and the sweep-out will also release almost £850.000 in administration costs.