Issue - meetings

To consider a report of the Portfolio Holder: Inclusive Economy and Third Sector and the Director of Commercial Development and Investment.

           The LCR Combined Authority considered the report of the Portfolio Holder for Inclusive Economy and Third Sector and Director of Commercial Development and Investment which sought approval to award Strategic Investment Funding to specific projects to support the development of speculative light industrial floorspace across the City Region.

           Councillor P Hackett, Portfolio Holder: Inclusive Economy and Third Sector, reported that the grant funding would support four light industrial projects in Liverpool, St Helens, Knowsley and Wirral. The projects would support SME’s who were looking to expand or upgrade their facilities.

           RESOLVED – That:-

(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:

·         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 request that the project applicant 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 (i) and (ii) above in consultation with the Combined Authority Monitoring Officer and Combined Authority Treasurer.