That Cabinet:
· Recommends that Council amends the Capital and Revenue budgets to reflect the funding as set out in Section 2 of this report and delegates authority to the Director of Finance and Section 151 Officer to vary the Council’s Capital and Revenue base budgets for projects under the parameters of the Pride in Place programme for Spalding.
· Approves that the Council be the accountable body for the Pride in Place programme for Spalding and delegates authority to the Council’s Director of Finance and Section 151 Officer to sign the Memorandum of Understanding for the Pride in Place Programme in Spalding, as attached at Appendix 2.
· Notes that it is the responsibility of the Spalding Neighbourhood Board to consider and recommend how the funding is allocated to individual projects. The Cabinet will be kept notified and updated with the Board’s priorities, approved projects, allocations and spend profile and monitoring of risks and benefits on regular basis.
· Delegates authority to the Council’s Director of Finance and Section 151 Officer to approve the Board’s recommended expenditure, following due diligence and in consultation with the Director of Economic Development and Leader of the Council.
· Delegates authority to the Council’s Director of Economic Development to enter into all associated delivery contracts and grant funding agreements on behalf of the Council in consultation with the Council’s Director of Finance and Section 151 Officer and the Leader of the Council.