SPRUCE looks for investments which form part of an integrated urban development plan and meet Scottish Government policy objectives. In addition, projects should;
- clearly address market failures, demonstrate a strong regeneration rationale and generate direct employment benefits to local residents.
- meet the aims of the Scottish Government’s Regeneration Strategy, available at www.gov.scot/Topics/Built-Environment/regeneration/discussion and of the Scotland's Economic Strategy 2015, available at www.gov.scot/Topics/Economy/EconomicStrategy.
Potential SPRUCE projects could include:
- The development, refurbishment and enhancement of locally based training/ learning and e-skills centres.
- Safe transport hubs to link areas of need with those of opportunity.
- Investment in increased local access to ICT facilities within communities with the intention of improving skills of local people seeking to re-enter the labour market and increasing access to web based public services.
- The development and refurbishment of existing facilities and workspace, especially those that employ ‘green design’ principles and are built to a BREEAM “Excellent” standard (for new build facilities) or “Very Good” standard (for refurbished facilities).
- Conversion and adaptation to industrial sites and business centres/facilities that offer employment and training, especially those that employ ‘green design’ principles and are built to a BREEAM “Excellent” standard (for new build facilities) or “Very Good” standard (for refurbished facilities).
- Projects that invest in the rehabilitation of the built environment, specifically work around the decontamination and servicing of brownfield land and gap sites.
- Energy production from renewable energy and low carbon technologies in response to local energy needs, such as co-generation and distribution energy systems (for example district heating and combined heat and power projects).
- Schemes that pilot or demonstrate new or innovative approaches to energy efficiency retrofit measures, including the retrofit of existing social housing stock. Energy conservation measures funded as part of energy efficiency retrofit projects may take a variety of forms, and projects should aim to deliver:
- A first year reduction of greenhouse gases emissions equivalent to £5,000 acquisition cost per tonne of CO2 compared to conditions prior to the project being implemented; and
- An Energy Savings Ratio of at least 20% compared to conditions prior to investment.
Projects will be predominantly commercially focused, with an emphasis on offices and industrial, but could include a secondary element of retail and/or residential as part of a mixed used scheme. This may also include hotels as part of a mixed use development, again where they are secondary to the main scheme.
Projects can involve the provision of enabling site related physical, digital and energy infrastructure which directly unlocks wider integrated development proposals and private sector investment, for example investment in a site specific access road which facilitates private sector development of a brownfield site.
Projects can also include social infrastructure projects which form part of larger integrated development proposals for example community health facilities.
From 1 January 2016, being the commencement of the Recycling Period, SPRUCE can invest anywhere in Scotland.
Projects may come from a variety of sources, and may be sponsored by public, private or third sector bodies. Borrowers may include Local Authorities, Urban Regeneration Companies, private sector developers, national and local regeneration bodies, Registered Providers, joint ventures and the voluntary sector.
For queries on SPRUCE or to discuss potential projects, please contact email@example.com
Case studies on SPRUCE projects funded to date can be seen here.