Gloucestershire Infrastructure Investment Fund (GIIF)
GFirst LEP has been awarded £8.4 million from the Department for Communities and Local Government’s Growing Places Fund to set up a revolving infrastructure investment fund for Gloucestershire. This fund is designed to stimulate local economic growth by targeting investment to deliver the infrastructure needed to unlock constrained and stalled development sites, and help to realise potential development value, new jobs, housing and regeneration.
Latest News: Since commencement of the infrastructure investment fund in 2013, varied projects in Gloucestershire have benefited from investment awards from the fund. Projects include; Honeybourne Gate retirement home complex in Cheltenham, Gloucester Motorway Services on the Southbound M5, Gloucester Park View extra care facility, Gloucester Transport Hub, the re-location of Stroud Metal Company in Stroud and Shield House Data Centre, Gloucester, all of which are at different programme stages.
The GFirst LEP, working closely with Gloucestershire County Council, continues to welcome expressions of interest for potential projects. Investment funding awarded to successful applicants will typically take the form of an interest free repayable loan. Gloucestershire County Council’s Economic Growth Team, provides programme management support for the investment fund. The Programme Management Team is contactable for further information on email@example.com
As well as meeting current fund commitments, there may be an opportunity to consider one or two smaller projects. Potential future projects are required to meet a broad set of qualifying criteria, recognising that the main purpose of the revolving fund is to help bring forward key developments/development sites and stimulate sustainable local economic growth. Potential projects that may wish to be considered for this fund, can contact the Programme Management Team for an informal chat and details of the current available funding position.
Further information about the infrastructure investment fund including details of the application process and the arrangement terms which includes a processing fee for the agreed loan, can be found within the links in the download bar below.
Gloucestershire LEP Investment Panel
The Gloucestershire LEP Investment Panel usually meets quarterly and acts in an advisory capacity to make investment recommendations to the LEP Board. The Panel also reviews and monitors the programme and investment portfolio for the Infrastructure Investment Fund. The LEP Board has responsibility for making the final decisions on investment funding for this scheme.
Investment Panel Members
Chair, David Owen, GFirst LEP
Vice Chair, Jon Whitbread, Harrison Clarke Rickerbys
Adrian Rowley, Alder King (Construction and Infrastructure Business Group)
Stephen Limbrick, Limbrick Studios (Construction and Infrastructure Business Group)
Nick Upton, Nicholas Upton (Construction and Infrastructure Business Group)
Chris Mears, Boost & Co (Banking & Finance Business)
Nick Haines, Hazlewoods (Banking & Finance Business Group)
Richard Hellen, Hermes Energy Services (Energy Business Group)
Andrew Hopcraft, National Composite Centre
Mark Wilton, HSBC (Banking & Finance Business Group)
Emma Hanby, Campden BRI (LEP Board)
Philip Ardley, Gloucester City Council
Tim Atkins, Cheltenham Borough Council
Mike Dawson, Tewkesbury Borough Council
Charles Amies, Homes England
Colin Chick, Gloucestershire County Council
Kaye Turner, Gloucestershire County Council - Accountable Body Representative
The Panel will have GCC executive support from Angela Presdee, Keith Cooper (external independent appraiser) and Ed Hall (Freeths LLP, external independent legal adviser)