L&Q launch the L&Q Foundation.

L&Q, one of the UK’s leading housing associations, last night launched a new community investment fund called the L&Q Foundation.

The Mayor of London, Boris Johnson, said: "This is a really valuable fund that will help to make a big difference to people in communities across London. In difficult times it is great to see L&Q playing its part in helping neighbourhoods to flourish and making our city an even better place to live, work and bring up a family."

The launch took place in central London with guest speakers including Nick Raynsford MP, for Greenwich & Woolwich and L&Q Chief Executive David Montague.

The L&Q Foundation includes a commitment of £1.5m per year for community based neighbourhood investment projects. Recent projects include:

• Women in Governance – a programme to support women residents into civic participation and engagement, which has already helped students to become school governors and Councillors.
• ESOL – a programme which works with non-English speaking residents to teach them English and has been extended across London and the South East following a successful pilot project.

Two new projects were the first to be approved for L&Q Foundation funding this week:

• Kensington and Chelsea Kickz – L&Q will be working with Chelsea FC to provide local young people with sports and personal development activities
• BOOST – An exciting project which will place unemployed residents in the Olympic boroughs into service jobs with major international companies.

Also approved this week was L&Q’s Financial Inclusion Strategy which will be funded through the L&Q Foundation. The strategy aims to promote a holistic and co-ordinated approach to financial inclusion and facilitate access to a range of financial services and products to help residents participate fully in modern-day society and the economy. The strategy will be delivered through a range of key local partnerships.

The L&Q Foundation also includes £70m for capital related community investment projects that will improve the social infrastructure of our neighbourhoods and existing or planned developments. Examples include L&Q’s estate regeneration plans on South Acton, Aylesbury and Haggerston where alongside high quality new homes L&Q is also providing community facilities such as local community centres and cyber cafes.

The L&Q Foundation brings together existing funding streams within L&Q under the one umbrella to deliver the most effective service to our residents and local communities. In total the L&Q Foundation sees a commitment of £100 million of L&Q’s internal capacity for community-related projects aligned to L&Q’s social mission.

The event also celebrated the success of the Ujima Foundation, chaired by L&Q Board Member, Ainsley Forbes, which was launched in January 2008 when L&Q acquired the Ujima Housing Association. A five year commitment to spend £250,000 per annum on community projects as part of the Ujima Foundation remains as part of the L&Q Foundation.

Speaking at the event Nick Raynsford MP said “The launch today of the L&Q Foundation shows L&Q’s commitment to investing in its local communities. Speaking to some of the residents here today who are involved in projects with L&Q, it is clear that housing associations are well placed to work with a range of providers and partners to deliver real benefits to residents and local communities. I look forward to hearing more about the work of the L&Q Foundation in the future.”

David Montague, L&Q’s Chief Executive said, “L&Q is committed to investing in its communities through projects which increase our residents’ skills and employability; tackle disadvantage; provide support and create opportunities for young people; help to minimise anti social behaviour; and provide volunteering opportunities.

“We have a strong track record in delivering our neighbourhood investment programme and by bringing all of this work from across the organisation together into the L&Q Foundation we can continue to deliver ever bigger and better, more effective opportunities for residents.”

-Ends-

Notes to Editors: L&Q is one of the UK’s leading housing associations and builds high quality homes to suit a range of incomes; this includes homes for rent, shared ownership and outright sale.

L&Q is involved in large scale community regeneration projects across London and is committed to investing in local neighbourhoods and communities and has dedicated Neighbourhood Investment teams to carry out the work of the L&Q Foundation.

L&Q works in partnership with local authorities and local and national voluntary and community agencies to develop opportunities for residents.

For more information on L&Q and for all the latest news about L&Q’s work visit www.lqgroup.org.uk For further information please contact:

Alice Williams, L&Q’s Senior Press Officer, 0844 406 9000 ext 5155 / awilliams@lqgroup.org.uk

About the L&Q Foundation

The Foundation’s funds can be accessed by making an application, which will be assessed by a board of L&Q officers, representing departments across the organisation. Applications for funding can come from L&Q staff members, residents, or organisations working in our communities, and must aim to provide a real benefit for our residents.

L&Q’s Neighbourhood Investment focus at present is on:

• Skills, training and employment
• Involving young people
• Community development
• Financial inclusion

For more information please visit our website www.lqgroup.org.uk