Building Scotland Fund
The £150 million Building Scotland Fund will allocate £70 million in 2018 to 2019 and £80 million over 2019 to 2021.
It was announced in the Draft Budget 2018 to 2019 and is the precursor to the Scottish National Investment Bank.
Building Scotland Fund objectives
The fund will help:
- the development of new affordable and private sector housing
- the development of modern industrial and commercial property
- support industry-led research and development (R&D)
The fund is open to non-public sector organisations, such as:
- housing associations
Building Scotland Fund investments are likely to be over £1 million. There will be a focus on projects and investments that support inclusive growth, reduce carbon and sustain and create places in line with the proposed vision of the Scottish National Investment Bank.
Organisations will need to provide a completed business plan. This must demonstrate why public sector investment is needed and why the project/company cannot be funded through own resources/commercial lending or other private sector funding.
Planning consent documentation (housing and industrial and commercial projects only) should also be provided, if available.
Funding will be given out as loans which will need to be paid back, or as equity finance.
The amount of funding available will vary depending on the project. But the funding will not cover the entire cost of a project, and applicants still need to find some of the money themselves.
R&D projects are likely to be business led later stage projects, with a clear route to success.
For more information on the Building Scotland Fund contact:
- Email email@example.com
- Telephone 0300 244 4000 (Central Enquiries Unit)