LEP Funding

Meeting: 
MQT on 2014-10-22
Session date: 
October 22, 2014
Reference: 
2014/3983
Question By: 
Fiona Twycross
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Following your answer to MQ 2014/3466 can you confirm for each fund how much of these monies have been spent and any time restrictions that exist on access to these funds?

Answer

Answer for LEP Funding

Answer for LEP Funding

Answered By: 
The Mayor

Funding for the Growth Deal and 2014-20 European Structural and Investment Funds (ESIF) are yet to be received from Government. Bidding rounds for the Growth Deal are underway for projects to commence delivery in 2015/16. ESIF is yet to be launched and Government anticipates it will receive European Commission sign-off in early 2015 with funds expected to be available to eligible applicants throughout the delivery period.   

 

The Growing Places Fund has spent £4.17m to date. Spend for 2014/15 is anticipated to be £16m (subject to full approvals for some projects). There are no time restrictions on this fund.