Issue - meetings

To approve and delegate to the Director of Economic Development, the release and expenditure of allocated capacity funding provided by MHCLG to develop a new Regeneration Plan submission for Spalding (report of the Director of Economic Development enclosed).

Consideration was given to the report of the Director of Economic Development which requested the approval and delegation to the Director of Economic Development the release and expenditure of allocated capacity funding provided by MHCLG, and to develop a new Regeneration Plan submission for Spalding.

The Leader of the Council presented the report

Consideration was given to the report and the following issues were raised:

·       Whilst the funding was welcomed as good news for Spalding, there were other areas in the district that also required support.  BA – Good for Spalding but other areas need it too.

o   The Leader did not disagree with this commented but stated that this was the reality of Government.

DECISION:

That the following be agreed:

1)    To accept and release all revenue capacity funding provided by Central Government, to support the development of a new ten year regeneration plan for Spalding;

2)    That authority be delegated to the Director of Economic Development to agree and expend all capacity funding provided by Central Government, in consultation with the Leader of the Council and in accordance with the steer from the Town Board;

3)    That authority be delegated to the Director of Economic Development to approve and enter all of the necessary contractual arrangements to progress the submission of a ten-year Regeneration Plan and four year investment plan for Spalding in consultation with the Leader of the Council and in accordance with the steer from the Town Board;

4)    That draw down of up to £140,000 from the Economic Growth Reserve in order to meet proposed spend for 25/26 outlined in section 3.3 be delegated to the interim Director of Finance in consultation with the Leader of the Council and Director of Economic Development

 (Other options considered:

·       To not accept or allocate the grant funding for the intended purpose;

·       To seek to identify and agree an alternative accountable body lead for the Plan for Neighbourhoods programme;

Reasons for decision:

·       To enable officers to progress the development of the Plan for Neighbourhoods submission for Spalding to meet the time constraints of the programme.)