Existing LGF Commitments Sample Clauses

Existing LGF Commitments. LGF is currently overseen by the LEP (as the applicant for funding) and administered by LCRCA as the Accountable Body. Until DCLG has approved this assurance framework, the existing LCR LEP Growth Deal Funding assurance framework (April 2016) will continue to apply, and the LCRCA will remain the Accountable Body for the LEP. This will also be the case for Local Major Transport Schemes governed by the Transport Assurance Framework. For projects that have in principle been allocated funding from LGF1, the previous assurance frameworks will continue to be used. LGF funding that has not been allocated to specific projects will form part of the SIF funding pot. Other programmes and projects that do not have a pre-existing commitment will be subject to the appraisal process and VfM assessment described in this document to ensure that the funding contributed by LCRCA is appropriate and delivers VfM. The level of appraisal will be determined by the cost of the project, in line with LCRCA’s approach to proportionality.