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Metro Mayor Steve Rotheram announces £30m to boost post-pandemic recovery
Steve Rotheram, Metro Mayor of the Liverpool City Region, has announced that up to £30m of funding is available for urban development schemes because of successful investments made by two city region lending funds.
Loans repaid by previous successful applicants to both the Chrysalis Fund and the LCR Urban Development Fund are now available to be reinvested into other projects.
Speaking about the funding, Mayor Rotheram said:
The Chrysalis Fund is a £35 million revolving fund that has supported more than £100m worth of development activity in the region since it launched in 2012. It will now continue to commit its funds into further projects until at least 2022, facilitating the delivery of new urban development schemes that support employment creation and economic growth in the Liverpool City Region.
The LCR Urban Development Fund is a £25 million revolving fund managed under the LCR Combined Authority’s Strategic Investment Fund framework. The fund supports the development and delivery of an integrated approach across the City Region focussed on meeting identified local needs and opportunities. The fund can invest in projects that support research and innovation, enhancing SMEs’ growth and competitiveness, and helping companies and organisations transition to a low carbon economy.
Both funds are now actively inviting developers and owner occupiers with new development projects that meet their investment criteria to come forward and apply for loans.
Projects benefitting from the funds include the Watson Building in Liverpool city centre, the Venus 217 industrial facility in Knowsley, and Duke and Parr in the Ropewalks area.
Jim Gill, Chair of The Chrysalis Fund, said:
The Chrysalis Fund is managed by igloo Investment Management Ltd, with support from Avison Young.
The Chrysalis Fund is supported by the 2007-2013 European Regional Development Fund for the North West under the Joint European Support for Sustainable Investment in City Areas (“JESSICA”) programme.
The LCR Urban Development Fund is backed by the 2014-2020 ERDF England Operational Programme and it is a new funding route to foster smart, sustainable and inclusive growth for our Liverpool City Region.
For more information or the enquire about a loan, please click the link
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