The purpose of the report is to update Cabinet about the £10m LCR Business Growth Grant Programme (funded by Regional Growth Fund) and approve the way forward in accessing these funds. Recommendations are that Cabinet:
(i)Authorises the Director of Built Environment to enter into an agreement with LCR Local Enterprise Partnership to deliver the fund in Sefton.
(ii)Delegates approval of completed business applications to the Director of Built Environment’s Invest Sefton service.
(iii)To note the proposed mechanism and approach to be used to deliver the fund to Sefton businesses
The programme has been supported by the Council’s Invest Sefton service. Invest Sefton will act as application appraiser and key decision makers on grant awards for businesses in Sefton following similar arrangements already in place for the Stepclever Legacy fund. The programme will support growth projects under £1m with a minimum grant of £50,000.
Decision type: Key
Decision status: Recommendations Approved
Wards affected: (All Wards);
Financial: Yes;
Community Impact: Yes;
Decision due: 20 Jun 2013 by Cabinet
Lead member: Cabinet Member - Regeneration and Tourism
Lead director: Director of Built Environment
Department: Regeneration and Skills
Contact: Mike Mullin Email: mike.mullin@sefton.gov.uk Tel: 0151 934 3442.
Consultation process
Briefings to Cabinet Member Regeneration and Tourism
22 May 2013; Report to Cabinet Member – Regeneration and Tourism and subsequent briefing updates
Passed to Finance for comment
Consultees
Cabinet Member – Regeneration and Tourism
Exempt Report?: No