Local organizations who rely on money from the Endowment Trust Fund (ETF) to finance their projects are waiting anxiously for the outcome of the Trustees Meeting on 31st October. The Trustees decide how much money will go to each organization. The ETF has a fund in excess of £5,000,000, left to the Vale Estate by the Housing Action Trust (HAT), to help key organizations after the HAT ceased to exist in 2005.
As the pot of money diminishes each year, the allocations will be reduced. Neighbourhood Manager Steve Clayton said: “The Trustees will have to make some difficult decisions. The project organizers will be informed of the decision that affects their particular project by letter soon after the meeting. All of the decisions will be made public shortly after those letters have been sent out. “
Around 16 projects are hoping that their bid for money will convince the Trustees to continue to grant them funding from the ETF this year.
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