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On 13 November 2018, Cabinet:-
(i) Subject to confirmation of funding from the Ministry of Housing, Communities and Local Government (MHCLG), approved the Full Business Case (FBC) (attached at Appendix 1 to the report) for the Business Growth Programme 2 (BGP2) European Regional Development Fund (ERDF) project, which will provide a comprehensive grant assistance package to support Small and Medium Enterprises (SMEs) across the Greater Birmingham and Solihull Local Enterprise Partnership and The Marches LEP areas for the period from January 2019 to the end of March 2022;
(ii) Subject to confirmation of funding from the MHCLG, approved the City Council acting as the Accountable Body for the BGP and accepted the offer of ERDF grant of £8.9m, which is being matched against an equivalent amount of public and private sector expenditure;
(iii) Subject to confirmation of funding from the MHCLG, agreed to delegate the award of specific financial assistance grants between £2,500 to £1m per SME up to the total programme value of £7.486m to the Corporate Director, Economy;
(iv) Authorised the City Solicitor to negotiate, execute and complete all necessary documents to give effect to the above decisions.
THE DEADLINE FOR CALL IN IS 1600 HOURS ON MONDAY
19 NOVEMEBR 2018.
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