The next steps for allocating the remaining £2.049m of Getting Building Fund (GBF) were approved at the SELEP Strategic Board meeting on 7 July 2023. Further guidance has now been issued by SELEP confirming that the funding round is now open to all capital projects which meet the criteria set out by the LEP.
The key criteria for applicants are:
- That the project supports the activities outlined in the SELEP Economic Recovery and Renewal Strategy
- That the project is shovel ready and subject to a short delivery programme (the Business Case must demonstrate that full spend of the GBF funding can be achieved within twelve months of receipt of funding approval from the Accountability Board
- There are no barriers to delivery, such as outstanding permissions or consents;
- A robust need for investment in the project;
- The project offers High value for money;
- A full funding package is in place to support project delivery
- Consideration has been given to the impact of high inflation and interest rates on forecast costs.
Click here for a business case template for projects seeking funding and here for a summary of the pipeline process.