02/07/12

South East LEP calls for applications to second round of Growing Places Fund

South East LEP calls for applications to second round of Growing Places Fund

The South East Local Enterprise Partnership (SELEP) has today (Monday 3 July) launched a call for applications to take advantage of funding to unlock economic and business growth across its area.

SELEP has potential funding of around £12m still available under the Government’s Growing Places Fund (GPF). The fund is designed to push forward developments to enable the creation of new jobs and homes that may have stalled as a result of the financial climate.
 
Applicants should be aware that:

  • SELEP is keen to encourage innovative approaches towards the use of GPF and is prepared to allow some flexibility in its use of the fund for strong projects which contribute towards the LEP’s strategic objectives
  • Priority will be given to those projects which offer repayment of the GPF within five years, and projects will need to demonstrate that the funding can be repaid through secure forms of repayment - including planning agreements, tariffs, or the Community Infrastructure Levy
  • GPF will not be used to fund projects which would be viable and funded in the absence of investment from the Fund and all necessary consents to allow schemes to start in 2012/2013   or 2013/2014 must be in place
    Expressions of Interest will need to be submitted by 5pm on Tuesday 31 July. Assessments will be carried out throughout August and the initial applications discussed at the SELEP Executive Group on Friday 7 September.

Those successful at this stage will be asked to submit full business cases by Friday 12 October. 
 
Anyone wanting more information should see here.

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