Issue - meetings

This report sets out three proposals for Economic Infrastructure Fund (EIF) allocations: (1) LCR Revolving Investment Fund (RIF); (2) LCR transport infrastructure proposals; and (3) Economic Inclusion.

RESOLVED:       That Cabinet agree to approve the EIF allocations of:

i)             £1.672m for CYC to invest in the LCR Revolving Investment Fund (RIF), subject to SAF and governance arrangements approval which will be brought back to a further Cabinet meeting;

ii)            £200K required to fund the Economic Inclusion Programme; and

iii)          £550k required to fund the first project in the emerging Transport Package.

REASON:           To support the Council Plan priorities of creating jobs, growing the economy and investing in the city’s economic future.

Consideration was given to a report which set out three proposals for Economic Infrastructure Fund (EIF) allocations: (1)  Leeds City Region Revolving Investment Fund (RIF); (2) Leeds City Region transport infrastructure proposals; and (3) Economic Inclusion.

Details of each of the proposals were set out at paragraphs 2 to 37 of the report.

Members noted that the performance of investments would be reported back to Cabinet.

RESOLVED:       That Cabinet agree to approve the EIF allocations of:

i)             £1.672m for CYC to invest in the LCR Revolving Investment Fund (RIF), subject to SAF and governance arrangements approval which will be brought back to a further Cabinet meeting;¹

ii)            £200K required to fund the Economic Inclusion Programme; and²

iii)          £550k required to fund the first project in the emerging Transport Package.³

REASON:           To support the Council Plan priorities of creating jobs, growing the economy and investing in the city’s economic future.