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<p>The department provides capital funding for the acquisition of sites/land and construction
of free schools, university technical colleges and studio schools, and provides project
development grants to proposers to cover essential non-capital costs prior to each
school opening.</p><p>Figures for Studio@Deyes school are set out below and are published
online on GOV.UK.</p><table><tbody><tr><td><p><strong>Type of Funding </strong></p></td><td><p><strong>Value
</strong></p></td></tr><tr><td><p>Capital Funding (site acquisition and construction)</p></td><td><p>£4,802,910</p></td></tr><tr><td><p>Project
Development Grant</p></td><td><p>£504,000 (covering 25 months)</p></td></tr><tr><td><p>Total</p></td><td><p>£5,306,910</p></td></tr></tbody></table><p>
</p><p>On 31 January 2019, following discussions with Lydiate Learning Trust, the
department agreed to the in-principle closure of Studio@Deyes in August 2020 subject
to a listening period. Where a school closes the department and LocatED will always
aim to recover assets and identify alternative educational uses for sites. If this
is not possible, the department retains the option to sell the site for a commercial
return.</p>
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