GAP FUNDING APPRAISAL PROCESS
Thomas Lister are instructed to seek Expressions of Interest for gap funding under the “Regional Aid Scheme for Speculative and Bespoke Developments” which provides a state aid exempt programme for the support of private sector developers to undertake qualifying activities within identified state aid limits.
Thomas Lister are appointed as programme managers for a programme which is initially proposed to run until 30th April 2010 subject to review.
Interested parties are invited to submit an Expression of Interest to Thomas Lister which will comprise of outline particulars of the scheme including location, site plan, development proposals and an initial assessment of financial assistance required. It may be appropriate for an initial meeting to be undertaken to discuss scheme proposals.
Following receipt of Expressions of Interest and supporting information, Thomas Lister would complete a “Preliminary Project Assessment” which would consider the suitability of the project to the Gap Funding Programme against a range of criteria which include strategic context, deliverability and value for money. Only in exceptional circumstances will projects be considered outside the Priority Areas including Regeneration Zones, Corridors or Urban Regeneration Company Areas. A Preliminary Project Assessment would be completed within 2 weeks of receipt of Expressions of Interest and supporting information and in the event of a successful assessment then an Outline Application will be sought.
There is a two stage application and appraisal process with funding awarded in accordance with EU approved schemes. This requires that funding shall be a maximum of 15% of eligible project costs within Tier 2 areas with an additional level of grant payable to Small and Medium Enterprises. In Tier 3 areas, gap funding is available to Small and Medium Enterprises only. A list of qualifying areas by Wards is set out.
The appraisal process is set out as follows;
Approach to Thomas Lister with Expressions of Interest
Subject to approval of Expression of Interest to invite an outline application for gap funding
Subject to approval of outline application to invite a full application for gap funding
Appraisal of full application
Completion of Development Funding Agreement
Projects will be assessed against a range of criteria which will include deliverability, AWM strategic fit and value for money.
An appraisal of outline and full applications with full supporting information will be undertaken within 4 weeks for each stage of the appraisal process to ensure an early response to interested parties.
Proforma for Preliminary Project Assessment
(to be completed by Thomas Lister)
