Bids invited for phase two of Futurebuilders

Finance | 1 May 2007

The Office of the Third Sector is to invite tenders from organisations wishing to manage the £65 million that is expected to be left unspent at the end of the first phase of the Futurebuilders Fund. The sum is more than a quarter of the original £215 million amount earmarked for the initial phase, which has been administered by Futurebuilders England since its launch in February 2004.

Futurebuilders England's contract with the Cabinet Office expires in June this year, though it will administer the fund at least until the second phase starts in April 2008. Futurebuilders has been criticised for being too slow to spend the money entrusted to it, and last summer it had its remaining budget cut in half because it wouldn't have been able to spend it all within the allocated time. The Cabinet Office announcement means Futurebuilders England will have to compete with other prospective bidders to regain control of the leftover money. It has indicated that it does intend to tender for the work.

Richard Gutch, Futurebuilders England chief executive, was bullish about his organisation's chances of success: "The commitment from government to extend the programme shows that the Futurebuilders model is proving to be successful. We feel that the expertise and experience we have gained so far in managing a fund of this nature is unparalleled. We are confident that we are in the best position to win."

Organisations interested in tendering should look out for a Prior Interest Notice in the Official Journal of the European Union.

Directory: Futurebuilders England | Office of the Third Sector
Who's Who: Richard Gutch

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