City authorities in the UK turn to crowdfunding for urban development projects

As UK city authorities lack funding from national government, cities like Brighton and Hove have started crowdfunded campaigns to iniitate urban development projects, such as the renewal and activation of the Victorian-aged Madeira Terraces. The financial pressure on city councils is expected to increase in the upcoming years. The Local Government Assocation announced that by 2020, 168 councils in England – almost half the total – will have lost 75p out of every £1 of central government funding that it was able to spend in 2015, meaning authorities are facing a funding gap of £5.8bn in the next three years.

Authorities have therefore increasingly made a virtue out of necessity and have publicly called for help from citizens to engage in local urban development and revitalization projects. This also gives residents the possiblity to actively engage in innovative ideas for their communities.

The Guardian

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