LEP relaunches £12.4m property fund
A Government-backed loan scheme to assist transport and infrastructure projects has re-opened for applications through the Leicester and Leicestershire Enterprise Partnership (LLEP).
The LLEP has relaunched the fourth round of its £12.4m ‘Growing Places Fund’ (GPF) which is open to developers, local authorities and businesses, to apply for short term loans to assist with projects such as new homes developments and the creation of office and commercial development space.
This is the fourth time GPF loans have been available. Already through the first three rounds, eleven projects received GPF finance, resulting in the creation of 979 new houses, 15,000 sq m of new office space and 3,650 jobs in the Leicester and Leicestershire area.
Nick Pulley
Projects such as the new business park, Optimus Point in Glenfield; the housing development at the old Velodrome site on Saffron Road and the new Formula E headquarters at Donington Park, have all benefited from the GPF loan scheme.
Nick Pulley, LLEP chair said: “GPF allows infrastructure developments to go ahead, unlocking potential developments across the city and county and creating much needed jobs that will boost our economy. As a loan scheme, the money will be repaid over a period of time, so it can be re-invested in future schemes.
“The LLEP is keen to ensure that the GPF is allocated in the best possible way and a stringent due diligence process takes place to guarantee that this happens.”
The closing date for applications is Friday 17 March 2017.
