Issue details

Economic Resilience Fund - Phases 2 and 3

Lambeth has used the Additional Restrictions Grant from Government to create the Economic Resilience Fund to support businesses impacted by ongoing Coronavirus restrictions and economic recovery.

Lambeth is taking a phased approach to the Economic Resilience Fund. Phase 1 ran from January – March 2021 and has provided more than 650 grants to businesses in need.

A second decision is required to authorise spend of the £3.3 million allocation for Phase 2 and a further Phase 3 (estimated at £2.5m) that will be unlocked should all previous allocation be spent by 30 June 2021. It is proposed that this will include a mix of business grants and strategic business support projects.

Decision type: Key

Reason Key: 2. Financial;

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 06/04/2021

Decision due: Not before 5 May 2021 by Deputy Leader of the Council (Planning, Investment and New Homes)

Lead director: Strategic Director: Sustainable Growth and Opportunity

Department: Sustainable Growth and Opportunity

Contact: Matthew Blades, Head of Business, Culture and Investment Email: mblades@lambeth.gov.uk.

Decisions