How do we develop, prioritise, appraise and approve projects for investment?
Our process for project development, appraisal and approval is set out in detail in part 2 of our Local Assurance Framework. The first stage to working with the LLEP on any project is through our Open Call, which allows anyone to submit a project outline at any time, via an Expression of Interest, into our pipeline.
The Open Call allows us to understand the upcoming developments across Leicester and Leicestershire, and opens the door to working with any project which could be eligible for funding opportunities that are administered by the LLEP.
There is no guarantee of funding, but for those projects that fit with the aims and objectives of our Strategic Economic Plan (SEP), we’ll work with projects to develop a business case and access available funding opportunities as they may arise.
Appraisal and approval of projects takes place through a number of ‘gateways’ assessing projects on HMT Greenbook five case model, based on compliance with the criteria of the available funding route and contribution to the aims and objectives of the economic strategy. The process is standard across all funding streams but the level of appraisal and information required is commensurate with the size and value of the projects to ensure proportionality.
All project appraisal, prioritisation and approval involves a wide range of partners, which is representative of the character of the LLEP Board. Partners involved originate from the private, public, educational and voluntary sectors, ensuring that a wide range of interests and views are represented when prioritising and approving projects for investment. The final decision rests with the LLEP Board, or another group through delegated authority, and in adherence with the Local Assurance Framework.