Decision details

To approve a fund to encourage business investment in the city supporting economic growth and job creation.

1.   To approve the principles by which use of the £20m Enterprising Leicester Investment Fund will be operated as set out in the report.

2.  To delegate authority to the Strategic Director – City Development & Neighbourhoods – to approve investments by the Local Investment Fund in consultation with the City Mayor and Section151 Officer.

3.    To provide up to £200k for legal and financial support to the management of the fund, and approve the use of funds set aside for the Economic Action Plan for this purpose.

To make positive use of council investment balances to achieve better financial returns, to support the local economy and to accelerate investment in commercial, industrial and housing schemes and inward investment proposals.

This scheme has been designed to support investment growth within the city and to maximise use of city council reserves.