What happened to PIP, the previous gap-funding regime?
English Partnerships set up the Partnership Investment Programme (PIP) in 1994 to support the physical regeneration of deprived areas. PIP provided gap-funding and innovative partnership mechanisms to enable developers and other partners to undertake schemes where legitimate development costs would otherwise exceed end values. The programme closed to new applications in December 1999 when the European Commission ruled that it was in breach of the State Aid rules and therefore not compatible with the principles of the Common Market. RDAs are continuing to deliver existing approved projects under their land and property programmes.
