New business compensation fund announced
The agenda for the next meeting of the York Councils ruling Executive committee has been published. The anticipated item on the recent floods has been omitted.
It means that confusion continues to surround the promised “public inquiry” into the causes of the flooding and the effectiveness of the response by all agencis.
There had been calls for a special meeting to be called to consider how well the Council itself had addressed the crisis. This had been “put on hold” as officials struggled to deal with remedial work
It would be a major mistake if the Councils main policy making committee at its next meeting did not at least take time to review:
- How effectively the Council communicated with residents and businesses particularly over the fateful weekend of the 26th and 27 December?
- Whether flood alleviation arrangements including the distribution of sandbags was effective?
- How quickly victim’s needs were assessed and how effectively they were remedied?
- How well volunteer efforts were coordinated?
- How the clean-up operation has gone?
- How effective, and transparent, financial compensation arrangements are?
We are not out of the vulnerable winter period yet so, if refinements to emergency plans are required, then they need to be implemented in days rather than weeks.
Meanwhile the Council has announced yet another separate compensation fund for floods victims. It adds to the already bewildering range of funding channels apparently available to businesses and home owners.
The Council statement reads,
“York businesses are set to benefit from a share of a £5million flood fund, which was endorsed by the West Yorkshire Combined Authority Investment Committee yesterday.
The fund will help small and medium sized enterprises (SMEs) across York and the Leeds City Region to recover from the effects of recent flooding.
Merchant Adventures Hall
Yesterday’s meeting of the Committee supported a recommendation to invest £5m from the Leeds City Region Growth Deal allocation to establish the Business Flood Recovery Fund. An initial £1.4m will be made available with the full £5m awaiting final approval by the West Yorkshire Combined Authority Board at their meeting on 4 February. The new fund will be managed by the Leeds City Region Enterprise Partnership (LEP).
The Business Flood Recovery Fund is expected to be in place by next week with grants of between £5,000 and £100,000 available. The fund could support SMEs with critical capital investment requirements such as new equipment or hire costs for machinery and premises required to recommence or maintain their operations. It could also go towards implementing internal flood resilience measures such as building a mezzanine floor to move business critical equipment to a higher point. Each application will be reviewed on a case by case basis and will need to be accompanied by a detailed flood recovery plan.
Support will be provided by the LEP’s growth managers, local authorities, Chambers of Commerce and the Manufacturing Advisory Service to help eligible businesses develop the plans and ensure business continuity over the long term.
The fund will operate under the same guidelines as the existing LEP grant funding scheme currently supporting SMEs to grow in Leeds City Region. To be eligible for funding, businesses must be an SME and from one of the LEP’s priority sectors; manufacturing, food and drink, low carbon and environmental, financial and professional services, health and life sciences and digital and creative – although discretion will apply.
The application form will be available from the LEP next week and via local authority growth managers across the region. The LEP has a package of support available to businesses looking to grow and find support to help them realise their full potential. Support for business grants and loans, skills advice, apprenticeships and export are all available through the LEP and businesses are encouraged to get in touch by calling 0113 348 1818 or emailing businessgrowth@the-lep.com to find out more.
Further information about the support available to flood affected businesses can be found at www.the-lep.com/floodsupport.
By supporting the Business Flood Recovery Fund, West Yorkshire Combined Authority is building on the existing support provided by government of up to £7,500 that has been made available to SMEs in Bradford, Calderdale, Kirklees, Leeds, Wakefield, York and North Yorkshire to help companies with the immediate clean-up effort and flood resilience”.
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