Leeds City Region Revolving Investment Fund

The request was successful.

Dear Leeds City Council,

Please could you tell me:

1) the total investments (year by year) made by participating local authorities in the Leeds City Region Revolving Investment Fund since it was set up in 2013

2) the number of requests for loans made to the Revolving Investment Fund since it was set up

3) the number of loans issued by the Revolving Investment Fund since it was set up

4) who the current officers of the Revolving Investment Fund are

5) when the last time was that the future of the Revolving Investment Fund was discussed by the boards of the Local Enterprise Partnership and the West Yorkshire Combined Authority

Could you also provide me with:

5) copies of the annual reports/accounts of the Revolving Investment Fund since it was set up in 2013, and a copy of any forward plan for the Fund for 2016/17

Thanks in advance for your help.

Yours faithfully,

quentin kean

DPFOI, Leeds City Council

Dear Quentin Kean

Freedom of information request Ref 16356 : Leeds City Region Revolving Investment Fund

Thank you for your request for the above information which we received 22, April 2016. We will respond to your request in accordance with the Freedom of Information Act 2000, or the Environmental Information Regulations 2004.

We have passed your request onto Saleem Aziz, Information Governance Officer, Corporate Information Governance, cc[Leeds City Council request email] who will arrange a response within the appropriate statutory time limit.

Please remember to quote reference number FOI 16356 in any future communications.

Yours sincerely

Kristin Lea
Information Governance Support Officer
Corporate Information Governance
Business Improvement (incorporating Corporate and Central IM&T)
Strategy and Improvement
t: 0113 39 52732
e: [Leeds City Council request email]
e: [email address]
w: www.leeds.gov.uk

Leeds City Council, Civic Hall, Calverley Street, Leeds, LS1 1UR

“Information is everyone’s business and responsibility.”

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CCDPFOI, Leeds City Council

Dear Quentin Kean,

 

Freedom of Information Request (Ref: 16356)

 

I refer to the above and your request dated 22, April 2016. I have
contacted the relevant services and now provide a response to the
following request - Leeds City Region Revolving Investment Fund. Please
note this response is sent on behalf of both Leeds City Council and Leeds
City Region RIF (GP) Limited.

 

1)     the total investments (year by year) made by participating local
authorities in the Leeds City Region Revolving Investment Fund since it
was set up in 2013

The first RIF investment was made on 4^th April 2016. This investment was
in the sum of £7,749,517.40.

 

2)     the number of requests for loans made to the Revolving Investment
Fund since it was set up

We do not maintain records of the number of parties that have contacted
the RIF expressing an initial interest in applying. However, the RIF has
received 8 applications since it was set up, with 3 applications currently
under consideration/being progressed.

 

3)     the number of loans issued by the Revolving Investment Fund since
it was set up

Please see the response to question 1.

 

4)     who the current officers of the Revolving Investment Fund are

The revolving investment fund is a partnership of Leeds, Bradford,
Wakefield, Kirklees, Calderdale, Harrogate and York councils which
operates through its general partner The Leeds City Region Revolving
Investment Fund (GP) Limited (the “general partner”). The general partner
is wholly owned by Leeds City Council. The Chair of the general partner is
Joanne Roney (Chief Executive of Wakefield council) and the other
directors are Adrian Lythgo (Chief Executive  of Kirklees council) and
Alan Gay (Deputy Chief Executive of Leeds council). Day to day management
of the general partner is undertaken by officers from Leeds City Council’s
Projects Programmes and Procurement Unit, and treasury management team.
The general partner reports quarterly to a board made up of senior
officers from each of the partner authorities.

 

5)     when the last time was that the future of the Revolving Investment
Fund was discussed by the boards of the Local Enterprise Partnership and
the West Yorkshire Combined Authority

Regular consideration as to options for the future direction of the RIF is
undertaken and considered. The partnership agreement provides that a
formal review as to the progress of the RIF shall be undertaken on the
3^rd anniversary of the formation of the RIF (i.e. 31^st July 2016).

 

6)     copies of the annual reports/accounts of the Revolving Investment
Fund since it was set up in 2013, and a copy of any forward plan for the
Fund for 2016/17

Annual accounts are submitted to companies house and are publicly
available. No forward plan covering 2016/17 has yet been produced. As
noted in response to q5, a formal review as to progress of the RIF shall
be undertaken on the 3^rd anniversary of the formation of the RIF (i.e.
31^st July 2016).

 

I trust that this response is satisfactory. If however you are
dissatisfied with this response you have a right to appeal to an
independent officer within Corporate Information Governance. They will
re-examine your request and assess whether we have adhered to the
requirements of the act. Should you wish to follow this course of action
please address your concerns in writing to Saleem Aziz, Corporate
Information Governance, 2nd Floor West, Civic Hall, Leeds, LS1 1UR or by
emailing cc[Leeds City Council request email].

 

You also have a right under Section 50 of the Freedom of Information Act
to ask the Information Commissioner to decide whether we have met with our
obligations under the act.  The Commissioner has however made it clear
that he expects all applicants to exhaust internal appeals procedures
prior to making such an application. Should you wish to contact the
Commissioner’s office then you can write to the following address:

 

            Office of the Information Commissioner,

            Wycliffe House,

            Water Lane,

            Wilmslow,

            Cheshire,

            SK9 5AF.

 

You may also contact the Commissioner via his website at [1]www.ico.gov.uk

 

I trust that this is self-explanatory.  If you have any queries please
contact me on 0113 39 52734, or by return email.

 

Yours sincerely,

 

Saleem Aziz

Information Governance Officer

t: 0113 39 52734

e: [2]cc[Leeds City Council request email]

e: [3][email address]

w: [4]www.leeds.gov.uk

 

Corporate Information Governance, Business Improvement (incorporating
Corporate and Central IM&T),

Leeds City Council, Civic Hall, Calverley Street, Leeds, LS1 1UR

Information is everyone’s business and responsibility.”

 

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References

Visible links
1. blocked::UrlBlockedError.aspx UrlBlockedError.aspx www.ico.gov.uk
file:///tmp/UrlBlockedError.aspx
2. mailto:cc[Leeds City Council request email]
3. mailto:[email address]
4. http://www.leeds.gov.uk/

Dear CCDPFOI,

Thanks for your response.

I think you may have misunderstood part of my request.

Under 1) I am asking for the total amounts of money participating local authorities have paid into the RIF since it was set up.

Under 3) I understand from your response that the first and only loan RIF has issued so far was issued on 4th April. If that is correct, could you tell me to whom the loan was issued and for what purpose?

Thanks in advance for your clarification,

Yours sincerely,

quentin kean

CCDPFOI, Leeds City Council

Dear Quentin Kean,

 

Under 1) I am asking for the total amounts of money participating local
authorities have paid into the RIF since it was set up.  

 

The partners have committed the following amounts, although these are only
drawn down as and when necessary: Leeds £6.440m, Bradford £4.133m,
Kirklees £3.304m, Wakefield £2.625m, York £1.632m, Harrogate £0.320m,
Calderdale £1.632m.

 

Drawdowns in the following sums from the partners have been made to date
in order to pay for the costs of establishing the fund, operating it and
the commitment to CITU (Low Fold) LLP in respect of the first loan (see
below):

 

Leeds – £224,420.00; £2,260,075.00

Bradford – £144,060.00; £ 1,450,791.00

Kirklees – £115,150.00; £1,159,646.00

Wakefield – £91,490.00; £921,372.00

York – £56,875.50; £572,773.00

Harrogate – £11,130.00; £112,087.00    

Calderdale – £56,875.50; £572,773,00

 

Under 3) I understand from your response that the first and only loan RIF
has issued so far was  issued on 4th April. If that is correct, could you
tell me to whom the loan was issued and for what purpose?

 

The loan was issued to CITU (Low Fold) LLP regarding the residential
development of a site called Low Fold, South Accommodation Road, Leeds.

 

Kind regards

 

Saleem Aziz

Information Governance Officer

t: 0113 39 52734

e: cc[Leeds City Council request email]

e: [email address]

w: www.leeds.gov.uk

 

Corporate Information Governance, Business Improvement (incorporating
Corporate and Central IM&T),

Information is everyone’s business and responsibility.”

 

 

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Dear CCDPFOI,

many thanks for your reply.

You give two figures for "drawdowns" from each of the partners to date. Could you explain the difference between the first (smaller) sum and the second?

Thanks for your help,

Yours sincerely,

quentin kean

CCDPFOI, Leeds City Council

Dear Quentin Kean,

 

Follow up question

 

You give two figures for "drawdowns" from each of the partners to date.
Could you explain the difference between the first (smaller) sum and the
second?

 

Response

 

The first figures relate to drawdowns for establishing and operating the
fund, and the second sums are the amounts for the CITU loan.

 

Kind regards

 

Saleem Aziz

Information Governance Officer

t: 0113 39 52734

e: cc[Leeds City Council request email]

e: [email address]

w: www.leeds.gov.uk

 

Corporate Information Governance, Business Improvement (incorporating
Corporate and Central IM&T),

Information is everyone’s business and responsibility.”

 

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