Local Pinch Point Fund
The Local Pinch Point Fund (LPP) was announced in the 2012 Autumn Statement as Department for Transport funding for English local Highway Authorities, given on a competitive bidding process, though 30% of the funding needed to be made by the local Highway Authority. Originally costed at £170 million, an additional £55 million was added to the funding later in the process. All applications required to be in by February 2013, with the DfT spend being completed by the end of 2014-15.
In order for a scheme to have been eligible for the LPP, the proposal had to be a capital investment to either remove a transport barrier, or prevent the emergence of a new barrier. Proposals were required to either address congestion or provide improved access to key economic sites. Highway Authorities were not allowed to request funding for schemes on Trunk Roads within their areas.
Four types of proposals were highlighted within the guidance:
- Access to a development site that has the potential to create jobs and housing
- Access to an urban employment centre
- Access to Enterprise Zones
- Condition of structures
Bids were to fall within two categories:
- Between £1 million and £5 million
- Between £5 million and £10 million
Most schemes were to fall within the smaller funding category, with bids in the larger funding category being considered only if they were "truly of exceptional value".
A total of 110 proposals were accepted for funding under LPP before the scheme ended.
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