Caerphilly County Borough Council has become the latest authority to pledge initial support to a Valleys crowdfunding programme aimed to improve civic and community spaces.
The council’s cabinet has agreed to fund around £30,000 for the project from the council’s reserves.
The exact funding amount is currently uncertain as it will depend on the number of local authorities that sign up.
Merthyr Tydfil, Neath Port Talbot, Torfaen, Bridgend and Blaenau Gwent have all, in principle, pledged their initial support to the project.
The project, which has been proposed by the Heads of the Valleys group, aims to create a funding platform that will generate project ‘creators’ and project ‘backers’ and match the two together.
The cabinet member for regeneration, transportation and sustainability, Cllr Sean Morgan, said: “The proposal is about empowering communities.
“It will be funded by the Welsh Government and participating authorities.
“It’s a relatively small amount of money to see if this innovative project will work.”
A report on the project says: “Local communities will be encouraged to come forward with their ideas on how they can improve their local areas.
“These project creators could be individuals within the community, local businesses or community groups.
“Supported by a core funding allocation from the Welsh Government’s Valleys Task Force and enhanced by equal financial contributions from local authorities across the Valleys area the target of the initiative is to lever in additional funds through a ‘coalition of willing funders.”
The target is to establish funding provision between £500,000 and £600,000 a year depending on the number of participating authorities.
The Welsh Government have allocated £500,000 of this but it would be up to the remaining authorities to find a further £100,000.
In addition, to fund the project for three years the Welsh Government has committed to covering £70,000 of the first-year activation costs.
The second and third-year costs of £80,000 a year would be shared between participating local authorities.