Local Growth Fund - Round 3B

The South East Local Enterprise (SELEP) has opened a new call for projects seeking capital funding utilising previously unallocated Local Growth Fund (LGF) monies.

In this new LGF-3B funding round, SELEP currently has £8.3million at its disposal to allocate to new projects.

Project eligibility and criteria

LGF-3B is offering grant funding for projects requiring capital investment (not revenue). Project applications should be in the range £250k to £8m, and must be able to fully spend the grant funding by 31 Mar 2021. The project must demonstrate alignment with SELEP’s objectives to support economic growth, and must also be deliverable in line with the legal requirements about the use of public funds (e.g. state aid rules).

Note that ‘new’ projects can also include previously agreed projects that have changed their scope so are deliverable within the LGF timescale.

Full details on eligibility and assessment criteria are given in the following guidance note:

SELEP guidance note on LGF pipeline projects

You can also view more information on the SELEP website*.

*note that the SELEP website gives an end-of-August deadline with returns to go directly to the LEP - the deadline in East Sussex is 20th August with EOIs to be returned to East Sussex CC - see the submission criteria below.

Submitting a project application

All interested applicants must download and complete the following Expression of Interest form:

EOI template

Completed EOI forms must be returned to economic.development@eastsussex.gov.uk by 12pm (midday) on Monday 20th August 2018.

Next steps and timescales

Applications will be sifted for eligibility and then assessed against the criteria using SELEP’s Independent Technical Evaluators. Recommendations will be made to Team East Sussex (SELEP’s federated board for East Sussex) for approval at the TES Board meeting on 24 Sep 2018.

Successful applicants at this stage will be asked to complete a Strategic Outline Business Case by 26 Oct 2018, which will again be assessed by the SELEP Independent Technical Evaluator before a final decision is taken by the SELEP Investment Panel on 7 Dec 2018. Successful projects at this stage will have to produce a detailed Full Business Case before the funding can be defrayed.

Note that there is the possibility that the LGF-3B funding pot may increase in the coming months as other previously-agreed LGF projects may not be able to come forward within the agreed LGF timescales, making their ring-fenced funds available for reallocation to new projects. Whilst the total amount of funding available through this route is not known yet, it could be anything up to £38.9m.

Queries

If you have any questions on LGF-3B then please email economic.development@eastsussex.gov.uk in the first instance.