The £45 million fund (£15 million a year over three years) for seaside resorts announced on 30 November 2007 will come from departmental funds made available through the 2007 comprehensive spending review. We have asked the Commission for Architecture and the Built Environment, who will lead the programme, to seek to attract at least equal matching funding from public and private partners to further enhance the programme. This match-funding has yet to be determined.
The funding is available from the next financial year. The Commission for Architecture and the Built Environment is developing the criteria and timetable for the seaside resorts initiative. I expect they will make some allocations early in 2008-09.