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Department of Internal Affairs,
A major new fund will assist community projects of regional and national significance through to completion.
Internal Affairs Minister Rick Barker today unveiled the Lottery Significant Projects Fund, which is planned to provide $16 million annually over the next three years to complete major projects of importance to the wider community, region or nation.
"Since NZ Lotteries began in 1987 more than $2 billion has been distributed to our communities through the Lottery Grants Board," said Mr Barker. "This latest fund will compliment other funding options by allowing for completion of larger projects with a national or regional significance," Mr Barker said.
"The Lottery Significant Projects Fund will provide grants large enough to enable completion of projects with a capital expenditure of at least $1 million. As well as meeting the 'significance' criteria, projects will also have to demonstrate that they are community based, have considerable support from the community and have exhausted all other avenues of funding.
"This financial year, a record $171.6 million of lottery profits (including a one-off allocation of $24.7 million) will be distributed by the Lottery Grants Board. Lottery profits enable new funds such as the Lottery Significant Projects Fund. Thousands of organisations and projects benefit each year from lottery grants," Mr Barker said.
Administered by the Department of Internal Affairs, Lottery Grants Board funding is generated by NZ Lotteries' profits, which are transferred to the Lottery Grants Board and flow on to directly benefit the community.
Further details about the Fund, which will be open for applications from February next year, will be released towards the end of next month.
For more information on lottery grants see:www.dia.govt.nz/diawebsite.nsf/wpg_URL/Services-Lottery-Grants-Index?OpenDocument