The Targeted Agricultural Modernisation Scheme (TAMS 3) provides grants to farmers to build and/or improve a specified range of farm buildings and equipment on their holdings. Overall, the scheme has proved very popular, with an unprecedented level of applications received.
The TAMS 3 scheme operates in tranches, with generally four tranches per year. There is no difference in the processing time in any of the TAMS 3 sub-schemes as the processing of all applications commences upon closure of the specific tranche.
The timeline for approval of applications under TAMS 3, including those received under the Solar Capital Investment Scheme (SCIS), has been agreed with the relevant farm bodies and laid down in the Farmers' Charter. The issue of approvals following the selection of valid applications will take place within three months of ranking and selection of files under each tranche, and no longer than six months following the closure of a tranche. Ranking and Selection is the process whereby the overall cost of applications received in a particular tranche is assessed taking into account the available budget. It is a regulatory requirement that Ranking and Selection must take place on all eligible applications. Under Tranches 1 to 8,100% of eligible applications proceeded through the Ranking and Selection process.
On average, all eligible TAMS 3 investments, including solar PV applications, where there are no issues with the application/accompanying documents, are processed within three months following the ranking and selection process. I believe the processing of applications, in its current structure, is the best method of ensuring that applicants receive timely approval to proceed with their investments.