Call for projects – SCR Jessica Urban Development Fund launch
On 26th April, the new SCR Jessica Urban Development Fund will be launched at the Advanced Technology Centre in Rotherham. Organisers have put out a call for projects. The event will be hosted by CBRE, Sheffield City Region LEP chairman James Newman and Coucillor Leigh Bramhall of Sheffield City Council. The event will include a ‘meet the fund manager’ session with CBRE allowing attendees to explore how their project can access associated funding sources across the Sheffield City Region.
Sheffield City Region has created a number of initiatives applicable to growth and regeneration projects. Eligible projects could also have access to Growing Places, ERDF and other capital through the fund.
CBRE is looking for all projects that require finance to allow them to proceed. The fund will be able to provide development and construction finance at a time when banks and other financial institutions are not prepared to lend, even for financially viable projects.
The latest in the series of tools and initiatives is the £23 million SCR Jessica fund, which will invest in infrastructure and property projects in South Yorkshire. The fund has utilised £8 million of the LEP’s Grwoing Places Fund for Sheffield City Region to leverage a further £15 million of funding from the European Regional Development Fund.