The first two rounds of Growth Deals saw Coast to Capital secure an allocation of £226m from 2015-2021 to invest in capital projects or as allocations of funding to run as competitive rounds. All projects funded from the Growth Deal are expected to contribute towards the Coast to Capital Strategic Economic Plan and to deliver economic outputs such as new jobs, homes and/or employment space.
Coast to Capital have launched a six monthly call for growth projects that will be funded from unallocated Growth Deal 1 and 2 funds. We are looking for projects under the following themes:
- Infrastructure- Transport including sustainability and resilience, digital infrastructure, flood alleviation, water supply, waste disposal
- Housing and Regeneration- Capital investment for unviable housing schemes to be unlocked, capital schemes that deliver a mix of housing and employment space, regeneration schemes that demonstrate a positive impact to an area
- Skills- Capital investment to develop new facilities that promote economic growth and employment opportunities and skills development, together with skills relevant to local labour markets. Particular attention will be paid to schemes that partner with employers of industry to deliver skills growth.
- Business and Enterprise- Capital investment opportunities to enable business and enterprise growth. This may include investments that purchase capital equipment which will allow expansion of employment, investments that allow business expansion to generate employment and/ or greater economic outputs, Enterprise bids that promote start up and growth opportunities.
This December 2016 Call is now closed. Subject to any changes to deadlines, the project appraisal and prioritisation process will take place throughout January and February 2017 and you should be informed on whether your project has been successful by the end of February 2017.
In this current round of LGF bidding the main priority is for spend in the 16/17 financial year. We are expecting projects that are submitted to have a considerable amount of spend in the 16/17 financial year. By this we mean that ideally at least 30% of the LGF amount being applied for can be incurred by 31st March 2017.
If you should have any questions related to this call please send them by email to email@example.com We are enhancing transparency and will publish an FAQ section on the website with any questions asked and Coast to Capital's response.
As with previous rounds, the Local Growth Fund can only be used to fund capital expenditure as per the CIPFA guidelines. Match funding can be used for revenue expenditure if required, but projects which are entirely revenue expenditure cannot be considered. Projects will also need to evidence State Aid compliance.