Humber LEP to spend £5.9m on kick-starting stalled developments

Feb. 2, 2012 - PRLog -- The Humber Local Enterprise Partnership has today been told that its allocation from the Government’s Growing Places Fund will now be £5,917,641. The allocation is £117,000 more than expected due to amended 2010 figures and less money going to devolved administrations.

The funding will form the first phase of the LEP’s Humber Infrastructure Fund, launched last month, and will be used to part-fund infrastructure to enable developments that create new jobs.

Developers have until next Friday, 10 February, to submit expressions of interest for the first phase of the Fund.  The LEP wants to invest in projects quickly to support job creation and the local construction sector.  Projects that already have planning permission, with a level of existing funding in place and the ability to be delivered quickly, will be prioritised.  

A task force is currently working on attracting further rounds of funding.

Lord Haskins of Skidby, Chairman of the Humber LEP, said:

“The Humber Infrastructure Fund is designed to help viable stalled developments get off the drawing board quickly.  The response since we launched the Fund last month has been very positive, and I hope more interested developers will come forward over the next week.

“With the difficulty developers are having raising bank funding, we want to commit this money quickly and use it to create jobs.  The small increase is welcome, but in the longer term we hope to grow this into a much larger fund using many more funding sources.”

Initial expressions of interest can be made up to 10th February.  For more information see www.humberlep.org or call 01482 611890.

Further information

http://www.communities.gov.uk/news/newsroom/2079220
http://humberlep.org/wp-content/uploads/2012/01/Growing-P...