Purpose

The Growing Places Fund is a
£19.4 million resource previously managed by the Lancashire
Local Enterprise Partnership (LEP). 
When the LEP was wound-up, ahead of the formation of the Lancashire
Combined County Authority, the County Council became the custodian
of the Growing Places Fund as it was the Accountable Body for the
LEP. The fund is deployed as a revolving loan fund to release
commercial development projects in Lancashire. Now that the
Lancashire Combined County Authority (LCCA) is established, this
report initiates the programme to migrate the Growing Places Fund
functions and resources to the Combined County Authority, and
builds on an aligned Cabinet decision within LCC confirming the
County Council will expedite this transfer.
 
The detail related to how the
resource lands within the LCCA, how proposals for its ongoing use
relate to its intended original purpose, and how the staffing
liability for those staff who have run the fund to this point are
to be dealt with still need to be resolved. 

Content

The Lancashire Combined County Authority
approved the recommendation(s) as set out in the report.