Decision details

LCR 103 - Strategic Investment Fund - Light Industrial Projects

Decision Maker: Liverpool City Region Combined Authority

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

The LCR Combined Authority issued supplementary SIF gudiance seeking projects that would deliver new light industial workshop accomdation (under the Light Industrial Programme) across the city region.

 

Approval is now sought for a package of eligible projects that have passed the SIF appraisal stage: totaling a maximum SIF grant investment of £5m.

Decision:

The Liverpool City Region Combined Authority:-

 

(i)         the provision of grant funding from the Strategic Investment Fund (SIF) for each of the following four projects up to the amount specified be approved as follows:

·       Brookfield Park, Ph 2 (Liverpool) - £1,092,247;

·       Gerards Park, Ph 2 (St Helens) - £1,040,029;

·       Image Business Park (Knowsley) - £861,069;

·       Magazine Point (Wirral) - £766,943

 

(ii)        the funding conditions set out in Appendix 3 be approved;

 

(iii)       the progress of the Sutton Fold project be noted and the project applicant be requested to demonstrate deliverability by 31 May 2020 in order for a decision to be taken regarding SIF grant funding for the project; and

 

(iv)      delegated authority be granted to the Director of Commercial Development and Investment to finalise negotiations of detailed funding terms and associated agreements for the projects specified at (a) and (b) above in consultation with the Combined Authority Monitoring Officer and Combined Authority Treasurer.

Publication date: 01/11/2019

Date of decision: 01/11/2019

Effective from: 09/11/2019

Accompanying Documents: