Liverpool City Region (LCR) has received some welcome good news recently, as two successful revolving property funds have re-entered the market. The loans have been repaid by previous successful applicants to the scheme, and this means that both the Chrysalis Fund and the LCR Urban Development Fund are now available, The Guide Liverpool reports.
The £35m Chrysalis Fund finances property, regeneration, and sustainability projects in the LCR. It launched in 2012, and since then it has supported more than £100m worth of development activity. Previous recipients of the funding include the Watson Building in Liverpool city centre, and the Aquila 118 industrial facility in Knowsley.
Steve Rotherham, Metro Mayor of the Liverpool City Region, said:
“Coming out of the pandemic, our local economy still needs all the help and support it can get. Because of the wise investments we’ve made over the last few years, we now have an extra £30m of funding to help rebuild and recover. That’s on top of the £150m COVID Recovery Fund that I announced on day one after May’s election.”
“I’m committed to making our region fairer, greener and stronger after the pandemic. By continuing to invest our money carefully, and in projects that help improve our region and create good jobs, we are able to create a virtuous circle that keeps generating more for us to invest.”
The second fund, known as the LCR Development fund, is worth £25m and supports the growth of small to medium enterprises in the area. Both of the funds are currently seeking new developers and owners with new development projects to come forward and apply for the loans.
They can be used to help businesses transition to a low carbon economy, and to support research and innovation on the area, as well as to enhance growth and competitiveness.
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