Decision details

Agreement for City Council to be the accountable body for the Regional Growth Fund on behalf of the Leicester and Leicestershire Enterprise Partnership (LLEP).

(i)   The decision of Cabinet on 6^th September 2010 which approved the key features relating to establishing the LLEP, specifically the City Council acting as the accountable body for the LLEP, be noted;

(ii)  The City Council become the accountable body for the Regional Growth Fund grant monies from central government; and

(iii) The Strategic Director for City Development and Neighbourhoods, in consultation with the Director of Finance, be given delegated authority to formally approve the outgoing grants(as between the City Council and third parties), as recommended by the LLEP Board  and thereafter to authorise the City Barrister/ Head of Standards to complete Agreements with the grant recipients.

In November 2012, the LLEP received a conditional scheme offer letter from Government under the Regional Growth Fund (RGF) awarding the LLEP £8m of RGF to the LLEP for the delivery of its SME Growth Fund Programme.

The LLEP SME Growth Fund Programme will establish a £7.8m Fund to provide 25% capital investment grants of up to £150k to businesses in the manufacturing sector located in Leicester City and Leicestershire.  The investment of this fund in local SME’s will create 312 direct jobs 936 indirect jobs and lever £23.4m of private investment.

It is a requirement of the Council’s Constitution that where the Council is required to act as an accountable body in relation to any project or funding programme in excess of £100,000 that the City Mayor approves this decision.

In establishing Local Enterprise Partnerships (LEPs) the Government required that a local authority would act as the accountable body for the administration of grant and other funding received on behalf of the LEP. 

The City Council was considered to be best placed to be the accountable body for the Leicester & Leicestershire Enterprise Partnership.