New Call for Bids - Local Growth Funding
Coast to Capital is launching a new ‘call for projects’ that will be funded from our remaining unallocated Growth Deal funding. This will specifically target projects that contribute towards the Coast to Capital Gatwick 360 Strategic Economic Plan (SEP); to deliver economic outputs as detailed within the 8 priorities listed in the SEP, or to support medium term delivery of our Strategy.
8 Strategic Priorities;
• Priority 1: Deliver Prosperous Urban Centres
• Priority 2: Develop Business Infrastructure and Support
• Priority 3: Invest in SustainableGrowth
• Priority 4: Create Skills for the Future
• Priority 5: Pioneer Innovation in Core Strengths
• Priority 6: Promote better transportand Mobility
• Priority 7: Improve digital network capability
• Priority 8: Build a strong National and International profile
The minimum funding that can be applied for is £500,000 and the maximum is £2,000,000. All projects will need to be at least 50% match funded. Matched funding must be at least the required percentage of the total project costs.
The Local Growth Funding for this call must be fully spent before 31st December 2020, and all applicants will have to demonstrate capital expenditure within both 2019/20 and 2020/21 financial years. Applicants who are unable to meet our spending timeline will not have their EOI application taken forward for evaluation.
As with previous rounds, the Local Growth Fund can only be used to fund capital expenditure as per the CIPFA guidelines. Match funding can be used for revenue expenditure if required, but projects which are entirely revenue expenditure cannot be considered. Projects will also need to provide robust evidence of State Aid compliance.
This current call will be open for Expression of Interest (EOI) applications from Tuesday 11th June 2019 until 12noon on Tuesday 2nd July 2019; any application received after this deadline will not be considered.
Applications should be submitted electronically to localgrowthfund@coast2capital.org.uk. Submissions will be acknowledged within 24 hours. Subject to any changes to deadlines, the project appraisal and prioritisation process will take place in July and you should be informed on whether your project has been successful by the end of July 2019. Coast to Capital reserves the right to amend this timeline.
All applicants must complete the Expression of Interest template and supporting excel spreadsheet, both of which can be downloaded from the ‘related resources’ box to the right hand side of the website link found here; https://www.coast2capital.org.uk/new-call-for-bids-local-growth-funding
Please ensure you use the guidance in assisting you with your Business Case. For more information including the criteria used to assess bids, please download and read the guidance notes also found in the above 'Related Resources' box on the website.
If you have any queries please send all emails to localgrowthfund@coast2capital.org.uk.