Shepway.gov.uk has the full story1:
Shepway Cabinet member for regeneration Cllr Linda Cufley said: "We are very disappointed with the news. It could have helped in regenerating and revitalizing the town but we were up against some stiff competition."
This is part of my site The 'Gerald that I set up in a fury of excitement when we first moved to Folkestone in approximately 2004. I had been a frequent visitor for a while previous to that so I am technically one of those DFLs you get nowadays. The site was a lot more dynamic with a gig calendar and voting for best venues and things, and I know it was a useful reference for others who were thinking of moving to the area. Now I've moved out of Folkestone again (though only to Hythe) it doesn't get as much attention as it used to. Ironic really as Folkestone itself is now becoming the exciting place we always thought it was just about to. I am not Gerald BTW, this comes from a pretend paper in an episode of The Day Today or something, the Portsmouth Gerald, and how there is a local paper here called the Folkestone Herald. Puns like this are great aren't they? Do contact me if you have something to contribute, email anythign @ this domain, or try @folkestone or @pauly on Twitter.