Further Education Capital Investment Fund
London has a dynamic Further Education (FE) system with over 37 FE Colleges and over 50 registered private and work based learning institutions. The skills required by Londoners to enable them to compete for the career opportunities offered by this great city can only be delivered if FE institutions are able to operate within suitably appropriate buildings and facilities equipped with up-to-date equipment and machinery similar to that used by London’s businesses. In response to this, HM Government has allocated £120m of funding to the London Enterprise Panel (LEP) for capital investment in FE estate as part of our Growth Deal, with £55m available in 2015/16 and an indicative allocation of £65m in 2016/17.
In August 2014, the LEP launched a prospectus inviting proposals from FE institutions (colleges and registered private providers) for innovative projects that will best meet the capital’s skills needs. This first round saw 27 expressions of interest worth in excess of £61m grant value brought forward from the FE sector.
To ensure that the LEP can support projects that will deliver the highest levels of skills progression, job outcomes and growth in London we invited further expressions of interest.
A number of revisions were made to the original prospectus to encourage expressions of interest from institutions that may have been precluded from the first bidding round. In particular:
- Other public match funding is eligible, match funding for the project can be sourced from other public sources, examples are provided; and
- A lower match commitment may be considered where the proportion of estate in poor condition (Skills Funding Agency (SFA) classification of C or D category) is 40% or higher. Applicants will need to demonstrate a strong business case for the enhanced grant commitment.
As of 17 December, the Round 2 Prospectus was amended to include information on the Mayors RE:FIT Programme in the Project Information section. This programme can assist refurbishment projects in achieving guaranteed cost savings.
Applying for Funding
Round 2 has now closed, however if you have any questions on the fund and the application process please contact firstname.lastname@example.org.
Further Education Capital Steering Group
The Further Education Capital Steering Group is overseeing the development and implementation of the FE Capital Programme for London on behalf of the London Enterprise Panel. The Steering Group will act as a formal consultation forum, reviewing project applications and providing expert advice and guidance throughout project development, due diligence and delivery. The Group will also oversee the commissioning of a comprehensive survey of London’s FE Capital Estate.
Terms of Reference
The purpose of the Further Education (FE) Capital Steering Group is to:
- oversee the production of the expression of interest and prospectus and recommend to the Mayor for approval and publication;
- provide advice and guidance to potential bidders;
- advise the Mayor on the shortlisting and evaluation of projects;
- oversee delivery of the Capital Programme and undertake a quality assurance role;
- oversee the commissioning of a comprehensive survey of London’s FE Capital Estate; and
- work with Colleges and other partners in the FE sector to develop a long term sustainable strategy for the ongoing investment in London’s FE Estate.
- Grant Hearn (Co-Chair); London Enterprise Panel (LEP) Member
- Jack Morris OBE (Co-Chair); London Enterprise Panel (LEP) Member
- John Bolt; Chair of Governors, West Thames College
- Mike Brook; LEP SME Working Group Member
- Professor Stephen Caddick; London Enterprise Panel (LEP) Member
- Joan Hillcock; National Commercial Sector Manager at Willmott Dixon
- Mary Vine Morris; Regional Director (London) – Association of Colleges
- Andy Wilson; Principal of Westminster Kingsway College