OPPORTUNITY INVESTMENT FUND APPLICATION FORM Deadline for applications - 10th April 2015. 1. APPLICANT & CONTACT DETAILS: Please tell us briefly who you are, about your organisation and how we can contact you. (Max 50 words) 2. SUMMARY PROPOSAL: Please give a summary of the proposal you are seeking funding for. (Max 150 words) 1/5 Opportunity Investment Fund – Application Form 3. FUNDING REQUEST: Please state how much funding you are asking for and the nature of the investment that you are seeking. *Please bear in mind that this is predominantly a loan fund and funding for non-repayable grant is very limited. Requests for non-repayable grant will be subject to greater scrutiny of value for money. Funding requested: £ Nature of investment (loan, grant, equity etc). (Max 100 words) 4. TOTAL PROJECT COSTS: Please set out total project costs and details of other funding secured or applied for. Total project costs: £ Other funding: £ Details of other funding including status (secured, applied for): 5. TIMESCALES: Please set out a headline timetable for your project, highlighting any critical milestones. 2/5 Opportunity Investment Fund – Application Form OUTPUTS TABLE: 6. PROPOSED OUTPUTS: What outputs will you deliver? Considering the following overall programme outputs and the benchmark costs: New Jobs Programme outputs: Vacant units reoccupied • Up to 200 new jobs • Up to 50 vacant commercial units brought into active use • Up to 100 workspace units supported • Up to 50,000 sq.ft (4,600 sq.m) increase in employment / commercial space • Employment/commercial floorspace created (sq.ft) Other Other Benchmark costs: • New workspace units £1,500 m/2 for commercial floorspace (based on BCIS/GVA in-house expertise, and applied to GIA) Other Other £15,700 per FTE job (assuming 30hrs at £9.15p.h (London Living Wage) +10% on-costs/pension) 7.OBJECTIVES: Projects must support two or more of the key objectives of OIF: • Purchasing key sites to bring forward high quality commercial and workspace development in line with the joint regeneration objectives of the GLA and LBH (please call to discuss) • Providing subsidies to assist the purchase of a site or a lease in partnership with a private development or land owner to bring forward high quality developments and uses • Overcoming scheme viability issues, for developments integral to realising regeneration objectives shared by the LBH, GLA and identified through the master planning process • Paying up front development costs in order to bring forward more ambitious development schemes • Helping to rationalise existing uses in an area to create opportunities for higher value activity • Promoting High Street occupancy 3/5 Please state which programme objectives you will support through your project. (Max 100 words) Opportunity Investment Fund – Application Form 8. PRIORITY OUTCOMES: Please indicate briefly whether your proposal delivers priority outcomes for the programme. (Max 50 words per section) CONTRIBUTING TO PLACE MAKING: INTRODUCING NEW INDUSTRY AND HIGH QUALITY EMPLOYMENT: CONTRIBUTING ADDITIONAL MATCH FUNDING: 9.EXPERIENCE: Please set out your personal or organisations experience of enterprise activity or commercial projects. (Max 150 words) 4/5 Opportunity Investment Fund – Application Form 10.BUSINESS CASE AND FINANCIAL ASSESSMENT: *Please tick to confirm that your business plan is attached to this application: Please attach a clear and financially robust business plan including the following elements: *Please tick to confirm that your most recent accounts are attached to this application: (please contact us to discuss if you have an issue with this request) • • • • • • • • • Detailed proposal Objectives of proposal Strategic impact – making reference to the Tottenham Strategic Regeneration Framework (SRF) and Haringey Economic Development and Growth Strategy What will be delivered with the funding Financial plan, including set-up costs, running costs and projected income Outline project timelines Funding strategy (assuming other funds are being sought, what is secured and what is pending) Repayment plan Your most recent accounts showing balance and profit/loss, preferably going back 3 years 11.LOCATION: Please state the address/location and Tottenham ward(s) that you propose to deliver your project from. (Tottenham wards; Northumberland Park, White Hart Lane, Bruce Grove, Tottenham Green and Seven Sisters) BID EVALUATION CRITERIA: An Evaluation Panel will consider bid submissions in accordance with the following criteria and associated weightings. Consisting of: • Proposal meets the OIF objectives 15% • Proposal meets the criteria, outputs and requirements 20% • Proposal demonstrates a financially robust business plan and financial profile that demonstrates a surplus after costs to repay the fund • Proposal demonstrates a repayment plan that is achievable realistic and within the specified timeframe • Relevant skills and experience of team and assigned staff 45% 20% APPLICATION SUBMISSION: If you have any questions regarding the application form or require this form to be translated please email [email protected] or call 020 8489 2934. Completed application forms should be emailed to [email protected] or posted to Anola Eddo, Haringey Council, Economic Regeneration Team, 6th Floor, River Park House, 225 High Road, London N22 8HQ. The deadline for applications is 10th April 2015. 5/5