Development Strategy - North Devon District Council

7.9 Delivery Principles
7.9.1 Deliverability of the Development Strategy depends on the following
factors:
• A coherent vision of a busy working harbour with significant
development to the East and South.
• Investment of private funds by businesses to deliver various
elements.
• Commitment of public funds to support business investment
and the delivery process.
• Ability to obtain consents.
• Continuous partnership work within NDC and with wider
stakeholders such as the North Devon AONB and Biosphere
Service.
• Resolution of land issues to facilitate delivery.
7.10 Business Investment
7.10.1 Each of the businesses and funding agencies involved will need to
contribute to decisions about scale, priority and timescales for
investment, but the overall vision will need to be maintained.
7.10.2 The total level of investment proposed within relatively short
timescales will imply significant construction work around the
harbour and this will certainly affect existing businesses and tourism
to some degree.
7.10.3 It will be important for the partners to co-ordinate with each other to
minimise potential conflicts and maximise value for money in
contracts.
7.10.4 It will be important to achieve a credible level of commitment to each
of the projects identified in the Development Strategy as soon
as possible, in order to start building a funding package of support
from public agencies.
7.11 Public Funding
7.11.1 There are several potential sources of public funding available to
support investment in the greater Harbour area;
• Funding by Devon Council/North Devon Council: the
Councils can fund economic development projects and
infrastructure projects through their own budgets and through
borrowing.
• Grant for Business Investment (GBI) is available for assisted
areas. Devon qualifies for some public intervention.
• The European Investment Bank provides loans to individual
capital projects complementing EU cohesion and convergence
activities.
• The Local Enterprise Partnership – Heart of the South West –
has been allocated funding from the Government’s Growing
Places Fund, which could provide a funding avenue.
• The Government’s Multi Million pound Regional Growth
Fund supports projects and programmes that lever private
sector investment. A further £1 billion has been allocated to
this fund and bids for it will be accepted early in 2012.
• The Coastal Communities Fund will become fully operative
in April 2012. It is a new fund designed to support the
economic development of Coastal Communities.
• The Big Lottery Fund is currently under review and may
provide opportunities in the future to help with funding of
Community related Harbour development.
IHB’s Development Strategy Version 1 dated 10th April 2012
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