Issue details

The Council is the Limited Partner of the SCR JESSICA Fund and under the terms of the Limited Partnership Agreement the Fund is required to secure Council approval for certain operational matters including securing additional funding and variations to the Investment Strategy.

This proposal is to secure Council approval for the SCR JESSICA Fund to enter into two Funding Agreements with the SCR Combined Authority with a combined value of up to £15m and thereafter invest in commercial property development across the Sheffield City Region for the benefit of the economy. In addition the proposal seeks an amendment to the Investment Strategy of the Fund to enable a more flexible approach to investment.