New Anglia LEP Investment Appraisal Committee

5 June 2019 8:30am-9:30am

Teleconference

Agenda

No. Item

1. Welcome

2. Apologies: Tim Whitley

3. Declarations of Interest

4.1,2,3. Minutes of previous meetings (27 March 2019 (4.1), 4 April 2019 (4.2), 15 April 2019 (4.3) (Confidential)

Reporting – Growing Places Fund

5. Growing Places Fund Horizon Paper (Confidential)

6. Growing Places Fund Programme Performance Report (Confidential)

6.1 Growing Places Fund RAG rating

Reporting - Growing Business Fund

7. Growing Business Fund Performance Report

7.1 Growing Business Fund approvals

7.2 Small Grant Scheme approvals

Items for Approval

8. Growth Deal: Croxton Road Cycle Link virement

9. Growing Places Fund: Loan request (Confidential)

10. Growing Places Fund: Loan amendment (Confidential- paper to follow)

Items for discussion

11. UEA Enterprise Fund output metrics (Paper to follow)

Other

12. Any Other Business

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Date and time of next meeting: Tuesday 25 June 2019. 9am-9:45am Venue: W217, 2nd Floor, University of Suffolk, Waterfront Building,19 Neptune Quay, Ipswich, IP4 1QJ

Committee Members Lindsey Rix Aviva Cllr David Ellesmere Ipswich Borough Council Alan Waters Norwich City Council Sandy Ruddock Scarlett and Mustard Dominic Keen High Growth Robotics Tim Whitley BT John Griffiths St Edmundsbury Borough Council Martin Williams Santander Exec Members Rosanne Wijnberg New Anglia LEP Chris Dashper New Anglia LEP Iain Dunnett New Anglia LEP

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Item ‐   Growing Places Fund Performance Report

Programme Overview ‐ What is the Growing Places Fund?

What is the Overall Programme Status?

Loans position Amber

Grants position Amber

Outputs 

achieved

Green

Actual Actual Actualctual/Forecast Forecast Forecast Total

2015/16 2016/17 2017/18 2018/19 2019/20 2020/21

0.000 0.000 2.729 4.415 ‐1.441 3.427

0.000 2.088 1.597 1.031 5.715 2.342 12.773

7.967 4.092 2.790 3.720 3.720 1.280 23.569

‐7.967 ‐3.451 ‐2.701 ‐5.891 ‐4.567 ‐0.370 ‐24.947

0.000 2.729 4.415 3.275 3.427 6.679

What is our contribution to the Economic Strategy?

Actual to date

362 

1,308 

364,442 

112 

  27 

        6 

142

134

276

Overall status Purple Red Amber Green Blue

Pipeline At risk Claim stage Live Complete Total Please see RAG Rating for full project 

list.

10 0 4 12 18 44

Change -3 0 -1 0 0

Ensure payback returns contribute to a revolving loan fund development.

Continue developing pipeline of future loan applications.

• Programme duration under Growth Deal funding: 2015 ‐  2021.

• Value: £25m. This is the £25m Growing Places Fund element of the Growth Deal. Completed projects date back to previous funding from 2012.

What are the next steps?

What is the Project Status?

Current status of all projects.

Total Match (£m)

Match Funding‐Private (£m) Includes £22m uplift sine April 2018.

• Aims: Invest loan capital in region’s infrastructure, sectors and growth locations. Occasional grants provided to projects demonstrating significant regional benefit.

See separate update on MSF

Recent grant offers all issued, grant payments underway where eligible costs incurred.

• Contribution to the Economic Strategy: The fund has leveraged £276m public and private investment,  created 1308 new jobs, 362 new homes, created 368,542 square 

feet of industrial space, provided premises for 112 new businesses to be created, supported 27 capital build projects, and 6 sector developments in the private and public 

sector.

Output delivery on profile.  Housing outputs will include Winerack dwellings from April 2019. 

Outputs – cumulative from April 2012 to Quarter 3 2018

Match Funding ‐ Public (£m) Includes £49m uplift since April 2018.

Gov Allocation

Spend [Act/Fcst]

Carried forward

What is our financial position?

Financials  (£ millions)

Financial Year

Brought Forward

Repaid

Sector Developments supported

Capital Build projects supported

New jobs created

New homes built

Programme performance to date

Industrial Space created (in square feet)

New businesses created through provision of premises

Item 6

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Growing Business Fund Performance Report

Programme Overview - What is the Growing Business Fund?

Launched in April 2013, the Growing Business Fund provides grants for businesses to enable growth, increased productivity and job creation

Capital grants between £25,000 and £500,000 are provided at up to 20% of project costs for SMEs and an enhanced rate for Small Businesses located in an Assisted Area

Funding for the Growing Business Fund is provided on an annual basis by the LEP's Growth Deal

The fund is accessed through the New Anglia Growth Hub with Due Diligence undertaken by Finance East

What is the overall Programme Status?

Finance Green All the funding for 2018/19 has been allocated with an expected over spend of about £750,000

Outputs Green Based on applications approved to date, the fund will over perform against the targets set

Delivery Green A steady pipeline of high quality applications is coming through, ensuring the fund is performing well overall

What are our key updates?

Membership of the Approval Panel was widened at the end of 2018, to ensure the panel has the knowledge required to operate effectively

The pipeline of applications showed a slight decline in Autumn 2018, but this has now picked up, with a good number of high quality applications coming forward for support

The LEP has been working with Suffolk County Council and the Growth Hub to tweak the programme guidance, to ensure there is a greater focus on LEP priorities

What is our financial position?

Financials (£ million)

Year 2013 to 2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/22 Total

Profile Spend (£m) £12.000 £3.536 £3.050 £5.096 £2.790 £2.790 £0.000 £29.262

Actual Spend (£m) £11.999 £3.001 £3.049 £4.733 £22.782

Remaining Spend (£m) £0.001 £0.535 £0.001 £0.363 £2.790 £2.790 £0.000 £6.480

What is our contribution to the Economic Strategy?

Target Actual to end

of March 2019Monthly Change Shortfall Notes

£5,096,000 £3,975,591 £115,109 £1,120,409 Target exceed

£14,160,000 £66,864,110 £710,536 -£52,704,110 Target exceed

354 371 12 -17 Target exceed

£5,096,000 £4,732,981 £481,064 £363,019 Target exceed

£14,160,000 £32,931,195 £5,615,878 -£18,771,195 Target exceed

354 317 35 37 Slight delay job creation following grant payment

What is the project status?

The following table shows grants approved by sector since the start of the programme in 2013/14

Number of

Projects

Approved

Grants

Approved

Private

Match

Total Project

Costs Jobs to be Created

2 180,000 794,946 974,946 46

1 100,000 1,654,600 1,754,600 10

116 13,378,233 88,353,956 101,732,189 1473.5

5 295,594 1,260,379 1,555,973 28

15 1,086,486 5,231,673 6,318,159 142

23 2,677,428 51,288,938 53,966,366 370

7 588,614 2,962,444 3,551,058 85

4 262,000 1,052,138 1,314,138 34.5

9 685,700 3,409,616 4,095,316 70

1 30,000 79,425 109,425 3

18 1,737,372 12,400,472 14,137,844 195.6

19 1,848,771 10,067,136 11,915,907 224

1 20,000 102,191 122,191 4

1 31,580 126,320 157,900 3.5

7 462,921 3,033,716 3,496,637 53.5

2 320,000 4,737,413 5,057,413 32

231 £23,704,699 £186,555,363 £210,260,062 2774.6

What are the next steps?

Revision of guidance and support provided by the Growth Hub is now complete, with a greater focus on high value activity, both terms of jobs, business growth and productivity

The 'Scale-Up' Programme has been launched, with SMEs now receiving targeted support, including potential GBF grant funding

I - Accommodation and Food Service Activities

J - Information and Communication

S - Other Service Activities

Private sector match funding drawn down

Outputs April 2018 to March 2019

Value of grants approved

Value of private sector match approved

Number of New Jobs to be Created

Value of grants claimed

Total

N - Administrative and Support Service Activities

Number of New Jobs Created

K - Financial and Insurance Activities

M - Professional, Scientific and Technical Activities

P - Education

Q - Human Health and Social Work Activities

R - Arts, Entertainment and Recreation

Sector

A - Agriculture, Forestry and Fishing

B - Mining and Quarrying

C - Manufacturing

E - Water supply, sewerage, waste management and remediation activities

F - Construction

G - Wholesale and retail trade; repair of motor vehicles and motorcycles

H - Transportation and Storage

Q1-18/19 Q2-18/19 Q3-18/19 Q4-18/19

Quarterly Forecast £1.274 £1.274 £1.274 £1.274

Quarterly Spend £0.420 £1.745 £2.086 £0.481

Variance £0.854 -£0.471 -£0.812 £0.793

-1

0

1

2

2018/2019 Expenditure Profile

Item 7

17

Date

ApprovedBusiness Name

Total Project

Cost

Private

Match

Grant

Awarded

Jobs to be

Created

Apr-18 Broadway Colours Ltd (2) £256,200 £160,700 £40,000 4

Apr-18 Panel Graphics (2) £225,000 £290,872 £64,414 4

Apr-18 Computer Service Centre £493,000 £1,446,200 £265,800 25

May-18 Renvale Limited £2,025,000 £1,510,977 £184,552 10

May-18 Warren Services Ltd. (4) £126,649 £176,000 £32,000 3

May-18 Food Forensic Limited £1,107,593 £219,220 £36,980 6

Jun-18 Omega Ingredients Ltd (3) £372,500 £175,000 £50,000 3

Jun-18 Advanced Engineering (UK) Ltd £375,000 £394,400 £98,600 6

Jul-18 Pecksniff's Bespoke Fragrances and Cosmetics Ltd £200,458 £1,822,500 £202,500 14

Jul-18 Gnaw Chocolate Limited £41,600,000 £101,319 £25,330 2

Jul-18 Ponders End Investments PLC £736,400 £928,354 £179,239 36

Jul-18 BCMZ PrecisionEngineering Ltd £199,970 £298,000 £74,500 4

Jul-18 Netmatters Limited £348,307 £337,500 £37,500 4

Jul-18 Glowcroft Ltd £388,750 £161,716 £38,742 3

Jul-18 LDH La Doria £605,000 £41,100,000 £500,000 99

Aug-18 Mirus Aircraft Seating Ltd (2) £1,443,000 £596,400 £140,000 7

Aug-18 Vanilla Electronics (2) £1,398,500 £159,976 £39,994 2

Aug-18 TBI Manufacturing Ltd (2) £9,034,543 £278,807 £69,500 4

Aug-18 DB Sheet Metals £372,430 £328,750 £60,000 3

Sep-18 Zedbox UK Ltd £590,244 £485,000 £120,000 6

Sep-18 Westover Vets Ltd £373,440 £1,317,000 £126,000 12.6

Nov-18 Optima Stainless Ltd. £373,307 £1,133,600 £264,900 14

Nov-18 Condimentum Limited £148,500 £8,643,193 £391,350 25

Dec-18 Spectra Packaging Ltd £350,000 £297,944 £74,486 4

Dec-18 Stephen Walters and Sons Ltd £1,040,000 £472,195 £118,049 2

Feb-19 Weco Engineering Ltd £196,153 £336,096 £37,344 2

Feb-19 Euro Workspace Ltd £220,000 £313,307 £60,000 3

Feb-19 H W Webb Engineers Ltd £1,134,624 £118,800 £29,700 2

Feb-19 Silverline Office Equipment Ltd £107,973 £280,000 £70,000 4

Feb-19 Lifeline 24 Ltd £198,368 £934,000 £106,000 15

Feb-19 Events Under Canvas Ltd £496,000 £165,671 £30,482 6

Feb-19 Drury's Environmental Services Ltd £131,277 £176,000 £44,000 3

Feb-19 Dorplan Contracts Ltd. £851,915 £907,698 £226,926 20

Feb-19 Avena Environmental £391,891 £86,379 £21,594 2

Mar-19 Precision Refridgeration Limited £136,200 £164,214 £34,154 6

Mar-19 JSM Home Improvements Ltd £121,151 £441,300 £54,700 4

Mar-19 Kiezebrink UK Ltd (3) £393,521 £105,022 £26,255 1.5

£68,562,864 £66,864,110 £3,975,591 371

Item 7.1 New Anglia LEPGrowing Business Fund

Grant Approvals 1st April 2018 to 31st March 2019

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Date

ApprovedBusiness Name

Total Project

CostPrivate Match

Grant

Awarded

Jobs to be

Created

Apr-18 Clerkin Civils Ltd. £20,630 £82,521 £103,151 2.0

Apr-18 Mitra Innovation £3,301 £29,714 £33,015 0.0

Apr-18 Alpha Inclusion Ltd. £5,150 £20,600 £25,750 0.0

Apr-18 SH Services (2) £1,798 £7,193 £8,991 0.0

Apr-18 Polstead Joinery (2) £6,090 £24,360 £30,450 2.0

Apr-18 Prosynth ltd. £5,920 £23,680 £29,600 0.0

Apr-18 Niagri Engineering Ltd. £14,793 £59,174 £73,967 2.0

Apr-18 Captain Fawcett Ltd. £5,249 £21,000 £26,249 1.0

Apr-18 OpenContact Direct Marketing Ltd. £3,861 £15,449 £19,310 0.0

Apr-18 WeType Ltd. £2,000 £8,000 £10,000 2.0

Apr-18 3 Norfolk Square Ltd. £5,544 £12,937 £18,481 0.0

Apr-18 Purple Line Ltd. £21,600 £86,400 £108,000 0.0

Apr-18 Storacall Technology Ltd. t/a X-on £24,958 £99,833 £124,791 2.0

Apr-18 Attwells Solicitors LLP £7,020 £16,380 £23,400 0.0

Apr-18 Fountain Partnership £12,190 £48,760 £60,950 0.0

May-18 Bridge Auto Sales Ltd. £20,093 £80,376 £100,469 5.0

May-18 Insight Ecology Ltd. £3,083 £12,335 £15,418 0.0

May-18 Needham Fabrications Ltd. £20,422 £81,688 £102,110 0.0

May-18 Joseph Read Lighting Ltd. £11,215 £56,349 £67,564 0.0

May-18 ACS Architectural Ltd. £1,340 £5,361 £6,701 2.0

May-18 Agricultural & Mechanical Services Ltd t/a Agrimech £6,100 £24,400 £30,500 2.0

May-18 Pump Street Chocolate Ltd. £25,000 £100,000 £125,000 0.0

May-18 R&B Plastering (2) £2,171 £8,685 £10,856 1.0

May-18 Edmund & Sedgwick Ltd. £1,815 £7,260 £9,075 0.0

Jun-18 My Sofa Covers Ltd. £2,000 £8,320 £10,320 0.0

Jun-18 Abate Ltd (2) £13,975 £55,898 £69,873 0.0

Jun-18 Richard Western Ltd. £2,372 £21,348 £23,720 0.0

Jun-18 Machined Precision Components Ltd. £1,475 £5,900 £7,375 0.0

Jun-18 R&S Budds Ltd. £9,468 £37,876 £47,344 0.0

Jun-18 Global Plant Genetics Ltd £1,705 £3,979 £5,684 0.0

Jun-18 TSI Structures Ltd £23,100 £92,400 £115,500 0.0

Jun-18 Asams Ltd (2) £14,461 £33,743 £48,204 0.0

Jun-18 Screenworks Ltd £11,489 £45,955 £57,444 0.0

Jun-18 Cargo Secure Ltd £25,000 £125,000 £150,000 1.0

Jun-18 Canham Consulting Ltd £2,388 £9,555 £11,943 0.0

Jun-18 Brandon Body Centre £15,005 £60,022 £75,027 2.0

Jun-18 Lark Technology Group Ltd (2) £6,464 £25,856 £32,320 2.0

Jul-18 McCavity's Contract Fillers Ltd £9,438 £37,752 £47,190 1.0

Jul-18 Prosynth Ltd (2) £1,597 £6,388 £7,985 0.0

Jul-18 BD&H (4) £22,900 £91,600 £114,500 2.0

Jul-18 Griffith Elder & Co Ltd £24,600 £98,400 £123,000 2.0

Jul-18 Dodman Ltd £3,680 £14,720 £18,400 0.0

Jul-18 EV Driver £3,284 £13,158 £16,442 0.0

Jul-18 Jordan Leisure Systems £3,200 £12,800 £16,000 1.0

Aug-18 Norwich Gas Electric Oil & Water Ltd £8,452 £33,808 £42,260 0.0

Aug-08 Sharing Parenting £1,086 £4,346 £5,432 0.0

Aug-18 Real Bodies Health & Fitness Ltd £9,088 £36,353 £45,441 2.0

Aug-18 Exo Environmental (2) £1,123 £4,492 £5,615 2.0

Aug-18 Torros Ltd £11,010 £44,040 £55,050 2.0

Aug-18 Dunhams Washrooms Systems £24,072 £96,289 £120,361 0.0

Aug-18 TTV Industrial Ltd (2) £25,000 £152,756 £177,756 0.0

Aug-18 Padgate Consulting Ltd. £2,911 £11,644 £14,555 1.0

Aug-18 Bevan Davidson International Ltd £7,300 £29,200 £36,500 6.0

Aug-18 Developing Experts £25,000 £105,000 £130,000 2.0

Aug-18 Food Innovation Solutions £13,538 £54,152 £67,690 2.0

Aug-18 Indigo Swan Ltd £7,073 £28,296 £35,369 6.0

Aug-18 RKE Engineering Ltd £7,750 £31,000 £38,750 0.0

Aug-18 Cornelius Group £6,302 £25,208 £31,510 2.0

Item 7.2 New Anglia LEP

Small Grant Scheme

Grant Approvals 1st April 2018 to 31st March 2019

SGS Grants Approved Apr18-Mar1919

Sep-18 3 in One Services £13,550 £54,200 £67,750 0.0

Sep-18 Keronite Group Ltd £19,882 £79,529 £99,411 2.0

Sep-18 RD Castings Ltd £5,642 £22,572 £28,214 0.0

Sep-18 CW Logistics Ltd £20,048 £80,193 £100,241 3.0

Sep-18 Black Shuck Ltd £4,705 £18,820 £23,525 0.0

Sep-18 Liquid 11 Ltd £10,053 £23,458 £33,511 2.0

Sep-18 Radical Waste Group Ltd (B & B Skip Hire Ltd) £14,721 £58,894 £73,615 1.0

Sep-18 Root3 Lighting Ltd. £25,000 £100,000 £125,000 2.0

Sep-18 Coffee House No 5 £11,156 £44,627 £55,783 2.0

Oct-18 Merxin Ltd £14,901 £59,607 £74,508 0.0

Oct-18 Plandescil Ltd £4,295 £17,180 £21,475 0.0

Oct-18 Diamond Garage LTd £24,300 £56,700 £81,000 0.0

Oct-18 Smart Refinish Ltd £9,000 £21,000 £30,000 0.0

Oct-18 Libra Scale Company Ltd £25,000 £124,500 £149,500 2.0

Oct-18 Crafted Media Ltd £4,652 £18,610 £23,262 4.0

Oct-18 Import Export Support LTd £4,900 £19,600 £24,500 0.0

Nov-18 Diss Coverings (Mary Gibson) £2,679 £10,717 £13,396 1.0

Nov-18 MD Controls Ltd £4,229 £16,918 £21,147 1.0

Nov-18 Excite Solutions Ltd £6,258 £25,032 £31,290 2.0

Nov-18 MacRefresh Ltd £11,500 £46,000 £57,500 2.0

Nov-18 B&B Skip Hire Ltd (2) £24,573 £98,295 £122,868 0.0

Nov-18 Dhotel Patisserie Ltd £3,763 £15,052 £18,815 0.0

Nov-18 Cox's Boatyard Ltd £6,000 £24,000 £30,000 0.0

Nov-18 STR Service Centre £24,559 £100,000 £124,559 0.0

Nov-18 KVT Business Care £2,230 £8,920 £11,150 1.0

Nov-18 Alex Stanlake Animation & Design £1,483 £5,933 £7,416 0.0

Dec-18 Flameskill Ltd. £16,372 £38,200 £54,572 0.0

Dec-18 Armour Engineering Ltd. £2,256 £9,028 £11,284 1.0

Dec-18 OneSite Building Products Ltd. £6,600 £15,400 £22,000 1.0

Dec-18 Petrotech UK Ltd £10,381 £41,526 £51,907 0.0

Dec-18 DFC Precision Engineering Ltd. £23,837 £95,348 £119,185 1.0

Dec-18 Slim Glass Ltd. £8,000 £32,000 £40,000 0.0

Dec-18 Adaptainer Ltd £6,384 £25,534 £31,918 0.0

Dec-18 Elmdale Welding and Engineering Supplies £9,600 £38,400 £48,000 0.0

Jan-19 External Services Ltd £15,625 £62,501 £78,126 4.0

Jan-19 F W Hall & Son Ltd £3,162 £12,646 £15,808 1.0

Jan-19 Advance Engineering (UK) Ltd £18,480 £73,920 £92,400 1.0

Feb-19 Coda Plastics Ltd. £12,914 £51,656 £64,570 0.0

Feb-19 Coderus Ltd. (2) £14,043 £56,173 £70,216 0.0

Feb-19 Aviland Ltd. £9,115 £36,458 £45,573 0.0

Feb-19 Tuffa Footwear Ltd £1,300 £5,200 £6,500 0.0

Feb-19 Lockertek Ltd £1,193 £4,772 £5,965 1.0

Feb-19 Fiscale Ltd £24,975 £99,898 £124,873 1.0

Feb-19 Marketplace Amp Ltd £2,592 £10,360 £12,952 2.0

Feb-19 Pro Alloy Motorsport Ltd £21,204 £99,816 £121,020 3.0

Feb-19 Heather Omerod Pilates £1,145 £4,580 £5,725 0.0

Feb-19 TMX Engineering Ltd (2) £18,000 £72,000 £90,000 1.0

Mar-19 Timber Services UK Ltd £25,000 £103,460 £128,460 2.0

Mar-19 Ansible Motion Ltd £9,794 £39,177 £48,971 5.0

Mar-19 E G Grounds Care Ltd £8,400 £33,600 £42,000 0.0

Mar-19 RD & M Gregg Ltd £19,627 £78,511 £98,138 3.0

Mar-19 Gurney Environmental Ltd £12,784 £51,141 £63,925 0.0

Mar-19 Anglia Computer Solutions Business Ltd. £4,604 £18,417 £23,021 1.0

Mar-19 The Engineers Store EA Ltd. £5,773 £13,473 £19,246 1.0

Mar-19 I-Level Ltd. £9,791 £39,166 £48,957 0.0

Mar-19 Fenwick & Tilbrook Ltd £4,004 £12,013 £16,017 1.0

Mar-19 Cambridge Rapid Components Ltd £15,755 £63,020 £78,775 1.0

£1,220,437 £4,877,460 £6,097,897 113.00

Note: those applications in bold have since been withdrawn

SGS Grants Approved Apr18-Mar1920

1

New Anglia Local Enterprise Partnership

Investment Appraisal committee

Wednesday 5th June 2019

Agenda Item 8

Growth Deal: Thetford Transport Package – Croxton Road Cycle Link

Author: Jonathan Rudd

Summary and Recommendation

The Investment Appraisal Committee are requested to: Approve the reallocation of £450,000 saving from existing schemes within the Thetford

Transport Package toward the delivery of a Cycle Link on the Croxton Road, Thetford.

Background

The Thetford Transport Package was initially designed to support the planned growth and expansion of the town through improved sustainable transport facilities. However, in June 2016 the LEP Board approved the redirection of funding to prioritise construction of a new roundabout junction to access the Thetford Enterprise Park and to improve traffic management measures in the town, as well as continue with resurfacing and dressing works on major routes.

The current composition and funding allocation for the Thetford Transport Package is as follows:

Part 1 (£1.98M); Traffic Management. Enterprise Park access Roundabout.Part 2 (£0.256M) A1075 Croxton Road Asset Management. Thetford Rd, Brettenham Rd Asset Management.Part 3 (£0.15M); Asset Management Priorities.

Proposal

The Highways Team at Norfolk County Council (NCC) propose to use savings from Parts 1 and 2 of this package toward construction of a new Cycle Link on the Croxton Road to the North of Thetford Town Centre. The existing arrangement is deemed unsatisfactory as cyclists need to either use the road and run the risk of conflict with vehicles or share a less than adequate footway with pedestrians.

The scheme will improve cycle and pedestrian links along Croxton Road between the Thetford Academy and the town centre. NCC have produced a full Business Case for the scheme in accordance with the Department for Transport guidance for modelling and appraisal of schemes, which includes strategic, economic, commercial, financial and management cases, as well as an Appendix with a WebTAG1 appraisal (available on request).

1 Website for Transport Appraisal Guidance (WebTAG).

21

2

Delivery

This scheme aims to improve cycle and pedestrian links along Croxton Road between the Thetford Academy (the only secondary school in Thetford) and the town centre. To achieve this, the scheme will deliver the following:

600m of 2.7m wide shared use footway/cycleway facility, from the Army Cadet Headquartersto the Thetford Academy secondary school, with no reduction in road width,

Provide a revised cycle crossing arrangement outside the Thetford Academy.

This will include transferring land (a verge) from Breckland District Council, use part of an existing lay-by and involve service diversions, relocating a telegraph pole and streetlamps.

Funding

It is proposed to use savings from Part 1 Traffic Management and Enterprise Park Access along with Part 2 Asset Management elements of the package to meet the costs of the scheme as follows:

Thetford Transport Package Initial

Allocation Revised

Allocation Variance

Part 1 (£1.98M) Traffic Management 180,000.00 63,000.00 -117,000.00

Enterprise Park access Roundabout 1,800,000.00 1,529,500.00 -

270,500.00Part 2 (£0.256M) A1075 Croxton Asset Management 72,000.00 72,000.00 0.00Thetford Rd, Brettenham Rd Asset Management 184,000.00 121,500.00 -62,500.00Part 3 (£0.15M) Asset Management Priorities TBD 150,000.00 150,000.00 0.00 Croxton Road Cycleway 0.00 400,000.00 +450,000.00

Totals: 2,386,000.00 2,386,000.00 0.00

Link to Economic Strategy

Within the Business Case, the scheme is considered as being of High Value for Money as it will:

Provide a safer cycle route to the Thetford Academy from virtually all of the residential areas ofthe town as these are located to the south of the school.

Encourage more pupils to walk and cycle to the Thetford Academy. Support the planned housing and employment growth for Thetford as Croxton Road is a key link

from the new growth area to the town centre and other employment locations.

This scheme complements other sustainable transport initiatives for the town aimed at supporting planned growth of some 5,000 new homes and 18 hectares of associated employment growth set out in the Breckland Core Strategy and Thetford Area Action Plan.

Summary and Recommendation

The Investment Appraisal Committee are requested to:

Approve the reallocation of £450,000 saving from existing schemes within the ThetfordTransport Package toward the delivery of a Cycle Link on the Croxton Road, Thetford.

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