The £9 million Invest and Grow Fund is Greater Lincolnshire’s rolling infrastructure fund designed to kick start stalled housing and commercial developments.
Funding of between £500,000 to £2 million is available for larger schemes which can unlock developments and enable the delivery of new jobs, commercial space and homes and is aimed at bringing forward vital infrastructure projects, boosting the economy and creating jobs. The fund, which is part of the national £500 million Growing Places Fund, can fund strategic links that will open up access to key development sites, used for flood storage capacity to enable the development of homes and retail space, or to ease congestion on major commercial routes.
The loan fund can also be used for new build or refurbishment of existing employment properties and loans are available to both the public and private sectors.
Expressions of in interest can be submitted at any time (www.greaterlincolnshirelep.co.uk/funding), and we would welcome applications for new schemes.
Key facts about the Growing Places Fund:
- It is open to all businesses and organisations in Greater Lincolnshire (Lincolnshire, North Lincolnshire and North-East Lincolnshire)
- Applications from small and medium-sized enterprises are particularly welcome, as are those from the public sector
- Projects need to be ready to go with all the necessary permissions in place
- Projects need to demonstrate job creation and economic growth
- Loans are for capital investment in infrastructure such as building or expanding business premises; measures to unlock land for development such as new access roads; and other infrastructure projects that unlock wider investment, create jobs and result in a range of other benefits
- Infrastructure must be related to unlocking the development of larger growth sites. As a guide developments should be not less than 25 houses or not less than one hectares or at least 10,000 sq.m. net of commercial space or a combination in a mixed use development
- Priority will be given to schemes which fall within the GLLEP’s priority sectors, such as manufacturing, agri-food, visitor economy, ports and logistics, care, renewable energy and the Housing Growth Point areas
More information about the Growing Places Fund, the application process and the forms can be found at www.greaterlincolnshirelep.co.uk or by telephoning 01527 889221 to speak to Rachel Lister about eligibility or Ruth Carver or Carolyn Tuscher from the LEP on 01522 550515 or email@example.com.