Decision Details

over £1m capital

Business Growth Programme 2 – Full Business Case and acceptance of ERDF Grant, Cabinet report 13^th November 2018.

On 21 April 2020, Cabinet: -

1. Approved the extension of the Business Growth Programme 2 (BGP2) project (subject to receipt of an offer letter from the Ministry of Housing, Communities and Local Government (MHCLG)), which will provide a comprehensive grant assistance package to support Small and Medium sized Enterprises (SMEs) across the Greater Birmingham and Solihull Local Enterprise Partnership and The Marches LEP areas for the period from 27 April 2020 to 30 June 2023;
   
   

2. Gave approval for the City Council to continue to act as the Accountable Body for the BGP2 project and delegated to the Interim Director, Inclusive Growth acceptance of the offer of ERDF grant from MHCLG of £5.000m comprising £3.950m capital and £1.050m revenue, which is being matched against an equivalent amount of public and private sector expenditure;
   
   

3. Delegated authority to the Interim Director, Inclusive Growth or their delegates to approve, award and monitor specific financial assistance grants of between £0.0025m to £1.000m per SME, up to the total of £4.274m;
   
   

4. Authorised the City Solicitor to negotiate, execute and complete all necessary documents to give effect to the above recommendations.