Common use of Appraisal Criteria Clause in Contracts

Appraisal Criteria. A single appraisal approach will be applied to all projects, which will be transparent and equitable. The project appraisal criteria will include: • fit with the Growth Strategy, SIF objectives and other relevant strategies – including strategic linkages with other thematic projects; • clear evidence of the rationale and need (or demand) for the project and application of best practice; • the additional GVA and employment impacts, as well as the wider benefits, at the LCR level; • clearly defined inputs, activities, outputs, and anticipated outcomes and an assessment of additionality (including displacement and deadweight); • clear detail of the financial costs of the proposal and evidence of the need for SIF support and availability of match funding; • confirmation that the investment represents value for money (the degree to which benefits exceed costs assessed using Benefit Cost Ratios and Net Present Public Value) and is the preferred option; • that the project has robust risk management, delivery, and monitoring and evaluation arrangements; and • that the project complies with necessary regulations and requirements, including legal due diligence requirements and state aid. Preference will be given to support in the form of loans or investments that generate a return, along with additional business rates and/or Council Tax generated being recycled to the Fund on a pro-rata basis reflecting public sector investment. In addition, private and other public sector leverage will be maximised. Projects will be appraised against these criteria and should also meet minimum thresholds and requirements (for example, a Benefit Cost Ratio that is at least acceptable and meets the established guidance for that project type7).

Appraisal Criteria. A single appraisal approach will be applied to all projects, which will be transparent and equitable. The project appraisal criteria will include: •  fit with the Growth Strategy, SIF objectives and other relevant strategies – including strategic linkages with other thematic projects; •  clear evidence of the rationale and need (or demand) for the project and application of best practice; •  the additional GVA and employment impacts, as well as the wider benefits, at the LCR level; •  clearly defined inputs, activities, outputs, and anticipated outcomes and an assessment of additionality (including displacement and deadweight); •  clear detail of the financial costs of the proposal and evidence of the need for SIF support and availability of match funding; •  confirmation that the investment represents value for money (the degree to which benefits exceed costs assessed using Benefit Cost Ratios and Net Present Public Value) and is the preferred option; •  that the project has robust risk management, delivery, and monitoring and evaluation arrangements; and •  that the project complies with necessary regulations and requirements, including legal due diligence requirements and state aid. Preference will be given to support in the form of loans or investments that generate a return, along with additional business rates and/or Council Tax generated being recycled to the Fund on a pro-rata basis reflecting public sector investment. In addition, private and other public sector leverage will be maximised. Projects will be appraised against these criteria and should also meet minimum thresholds and requirements (for example, a Benefit Cost Ratio that is at least acceptable and meets the established guidance for that project type7).