DG State Aid – Control and Regeneraton of Deprived Urban ... - REVIT

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For Further Information: Decision: http://ec.europa.eu/community_law/state_aids/comp-1999/n655-99.pdf Regional Aid Guidelines (Annex 2 – Fiche III): http://europa.eu.int/comm/competition/state_aid/legislation/aid3.html#F SMEs Block Exemption (Annex 2 – Fiche II): http://www.europa.eu.int/comm/competition/state_aid/legislation/aid3.html#sme 19
N747/A/1999 Partnership Support for Regeneration (1): (Speculative Developments) The objectives of this scheme are to promote regional development and SMEs by contributing to sustainable and balanced economic growth across England and also enhancing and improving the physical environment in areas where the standard of living is abnormally low or where there is serious unemployment. The scheme aims to tackle problems said to have been caused by historically low demand creating low market values for commercial property by providing public support to “speculative” (where the eventual occupier is unknown) development projects. Under this scheme the UK authorities can support speculative property development either by providing “gap-funding” (the difference between the estimated development costs and the estimated final value of the developed site) support to property developers or by entering into joint partnerships with property developers and investors. The scheme consists of 4 tools which can be used solely or in combination: (i) Regeneration Grant is a “gap-funding” grant which supports physical regeneration in speculative development projects; (ii) Joint Regeneration Body/Private Sector Projects where partnerships will be formed between the regeneration body and private firms. The regeneration body will either act purely as a market investor and accept the risk and rewards equally in proportion to the investment or it will accept a non-proportionate share of the risk and rewards for the levels of investment undertaken; (iii) Regeneration Financing Aid will support the cost of financing speculative development projects which otherwise would not be economically viable. Only the financing costs of the development undertaken will be considered; (iv) Regeneration Services where the UK authorities will undertake services to support or manage a physical regeneration project without cost or at less than cost price. In its assessment of this scheme, the Commission found that state aid could be present to property developers, investment companies, financial undertakings and any other undertakings who participate in speculative property development projects. However, whilst state aid was present, the Commission in its decision concluded that the scheme was compatible with the guidelines on national regional aid and block exemption for SMEs. 20
Page 1 and 2: EUROPEAN COMMISSION DG Competition
Page 3 and 4: This Vademecum on regeneration seek
Page 5 and 6: discretionary powers for the applic
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Page 13 and 14: Annex 1 LIST OF CURRENT COMMISSION
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Page 17 and 18: C13/1999 Thüringer Landesentwicklu
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Page 27 and 28: N680/2001 Property Support Scheme T
Page 29 and 30: NN78/2001 Urban Development Grant S
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Page 43 and 44: For Further Information: Decision:
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Page 49 and 50: N560/2001 Brighton West Pier - Unit
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Page 63 and 64: N271/2002 Rural renewal scheme The
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Fiche III - Regional aid Legal basi
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Fiche IV - Risk capital aid Legal b
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FICHE VI - Training Aid Legal basis
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For operating aid in the form of ta
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Fiche IX - Aid for research and dev
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DG State Aid – Control and Regeneraton of Deprived Urban ... - REVIT

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