£ 30million to boost post-pandemic recovery
A total of £ 30million is available for urban development projects due to the successful investments made by two Liverpool City area loan funds.
Loans repaid by previous successful applicants to the Chrysalis Fund and the LCR Urban Development Fund are now available for reinvestment in other projects.
The funding is aimed at stimulating post-pandemic recovery.
Metro Mayor Steve Rotheram said: “As the pandemic emerges, our local economy still needs all the help and support it can get. from the last few years we now have an additional £ 30million in funding to help rebuild and recover.
“This is in addition to the £ 150million COVID stimulus fund that I announced on the first day after the May election.”
The Chrysalis Fund is a £ 35million revolving fund that has supported over £ 100million in development activities in the region since its launch in 2012.
It will now continue to commit its funds to other projects until at least 2022, facilitating the implementation of new urban development programs that support job creation and economic growth in the Liverpool City region.
The LCR Urban Development Fund is a £ 25million revolving fund managed under the LCR Combined Authority’s Strategic Investment Fund.
The fund supports the development and implementation of an integrated approach across the city region, focused on meeting identified local needs and opportunities. The fund can invest in projects that support research and innovation, improve the growth and competitiveness of SMEs, and help businesses and organizations transition to a low-carbon economy.
Both funds are now actively inviting developers and homeowners with new development projects that meet their investment criteria to come forward and apply for loans.