Attendance of non-members at meetings
Remove final sentence beginning “Meetings of the Investment Appraisal Committee… or other
attendees”
Replace the word “Committee” with “Panel”
Action: JM to revise the Terms of Reference and seek LEP sign-off.
Panel Membership - The Panel voted to retain MB and JWh as Chair and Deputy Chair respectively on
the Panel.
New Applications for Approval (2)
(a) Anglian Plant Limited - Agreed to support
Approved Grant: £170,000
Eight full-time positions and an apprentice position to be created.
Conditions of Offer applied: Copy of current planning usage/restriction(s) to be provided
(b) Portable Space Limited
Panel noted that confirmation of planning permission(s) was not in place. JM referred to Point
2.4 of the GBF Guidance for Applicants. General discussion took place and it was felt appropriate
that it would be more advantageous for the company to re-submit their application.
Action: Finance East to advise options to the company and re-submit back to the May
Panel meeting.
Small Grant Scheme Update
JM provided update.
Programme extension - JM and Fran Rice, Growth Programme Finance & Compliance Officer had a
very positive six-month review meeting for the programme extension last week with the Ministry of
Housing, Communities and Local Government (MHCLG).
In addition, a lengthy discussion was had regarding eligibility and the ruling around the hospitality sector
following restrictions by MHCLG on the type of businesses that can be supported i.e. restaurants, pubs,
hotels, etc. that fall within the hospitality sector, which we have historically been able to support. MHCLG
are seeking clarification on whether that hotels will be eligible for support but restaurants, pubs etc. will
not be eligible.
JM brought their attention to the closure by DEFRA of the EAFRD and LEADER programmes affecting
land-based rural businesses. JM is expected to receive further clarification on this and will disseminate
this back to the Panel in due course.
JM reported the Small Grant Scheme continues to perform well and is currently a quarter ahead on spend
profile. The Panel noted the average grant awarded was approx. £9,500.
The Panel noted the award of Small Grant Scheme grants in the month of February 2019, totalling
£106,480 (Grants Awarded) - See Appendix 1.
Funding, Updates and Jobs Creation
BH provided update.
Growing Business Fund (GBF) - paid out £461k in March. The overall figure for 2018-19 stands at
£3.7million, against the original allocation of £3million. Currently fifteen unclaimed grants totalling
£1.6million, so with today’s approval £1.8million already committed for 2019-20.
Small Grant Scheme (SGS) - total spent on SGS is now almost £1.9million (212 grants), with £545k
committed, yet to be claimed. Just under £800k unallocated, to be potentially ‘gone’ by the end of the
first quarter of next year. In terms of where we are, we have now passed the May target and currently a
quarter of the way into the August target, therefore two-three months ahead of the profile.