SCR Investment Fund
Sheffield City Region Investment Fund (SCRIF) is the City Region’s major capital investment fund, made up of devolved Government funding and contributions from local authorities and private sector partners.
By being able to take control of a major capital programme SCR is able to more effectively leverage private and public sector investment to deliver capital programmes. The SCRIF programme is forecast to unlock 24,000 jobs and 13,000 homes through investment in infrastructure.
The Fund is valued at £650 million, with £211m secured from Government. The current programme is made up of 30 schemes with a further four under construction. 2016/17 will see a further 15 schemes set to commence construction.
Schemes include investment in the centres of Sheffield, Doncaster and Chesterfield and investment in major transport infrastructure at Markham Vale, completing the final phase of the FARRRS link road to the airport, and unlocking potential along the corridor between M1 junction 36 and Dearne Valley.
The overall objective of SCRIF is to deliver net GVA uplift for SCR through targeted infrastructure investment. The Infrastructure Executive Board (IEB) makes SCRIF recommendations to the CA. The IEB is supported by the SCR appraisal team and central independent appraisal team (CIAT).
We have a best-in-class approach to selecting schemes that deliver the most impact for the SCR. The agreed approach is set out in the SCR Assurance and Accountability Framework which was agreed with Government as the basis to manage the funding and ensure accountability of decision-making.