A £10 million 'money tree' designed to transform estates and neighbourhoods throughout Plymouth has been launched.

City residents whose council homes will shortly transfer to Plymouth Community Homes (PCH) are being invited to bid for a share of the Money Tree Fund which will be handing out £2 million in its first year.

The new not for profit housing association intends to start spending the cash on the first day of the transfer.

Any tenant or leaseholder of Plymouth Community Homes can now start applying for money to fund local environmental projects which will make their neighbourhoods look better, feel safer and bring people together.


PCH Chief Executive Turner said: "This fund is the realisation of one of the biggest promises we made to residents in our Stock Transfer Offer document.

"It's proof that we intend to waste no time in getting on with the job of transforming our residents' homes, neighbourhoods and daily lives. A relatively small amount of money in the hands of enthusiastic and committed residents can make a staggering difference to a local community."

The association pledges to spend £10 million on environmental projects inspired by residents in the first five years.

The council's 15,000 homes are due to transfer to Plymouth Community Homes on 16 November, following formal approval by the council next month.

(CD/KMcA)