Issue - meetings

Grant4growth extension

Meeting: 27/03/2019 - South Holland District Council (Item 120)

120 Grant4growth extension pdf icon PDF 77 KB

To seek agreement to extend the Grants4growth project for a further 3 years and for the Chief Executive to be given delegated authority to sign the grant agreement once all necessary checks have been completed (report of the Portfolio Holder for Growth and Commercialisation enclosed).

 

Minutes:

Consideration was given to the report of the Portfolio Holder for Growth and Commercialisation which sought agreement to extend the Grants4growth project for a further 3 years and for the Chief Executive to be given delegated authority to sign the grant agreement once all necessary checks were completed.

 

The Portfolio Holder for Growth and Commercialisation introduced the report, stating that the grants4growth scheme was on target to provide £1.1 million to local businesses in order to improve productivity and profitability to 169 companies. It was hoped that, by the end of March 2019, £1.325 million would have been committed to local businesses.

 

The Government had confirmed that it would underwrite European funded projects until 2022. The current 3 year project would, under these proposals, become a 6 year project ending in July 2022.

 

£1.6 million would be capital  for grant funding and on average would provide £10,000 per successful applicant. £4.3 million would be attracted in match funding.

 

DECISION:

 

That subject to the satisfactory completion of all necessary legal, constitutional and contractual checks, and any negotiation with the funding body that arise from those checks, that authority be delegated to the Chief Executive, in consultation with the Deputy Leader and Portfolio Holder for Growth and Commercialisation, to approve the terms and conditions of the grant sought to support an extension of the Grants4Growth programme, in addition to the signing of the grant agreement.