Additional documents:
Decision:
It was RESOLVED: -
1.2 That the Assistant Directors as alternative delegation for signature on legal documentation in respect of Enterprise Zone site delivery within the Districts be approved.
1.3 That continued negotiations between BDC and IBC to agree Memorandum of Understanding regarding passporting of Fund B monies in respect of Sproughton Enterprise Park (Enterprise Zone Site) be approved.
Reason for Decisions: To encourage the development of employment sites and other business growth in appropriate locations. To encourage investment in infrastructure.
Alternative Options Considered and Rejected: To not approve the Discretionary Business Rates Relief policy.
Any Declarations of Interest declared: None
Any Dispensation Granted: None
Minutes:
Councillor Ward, the Cabinet Member for Economy, introduced report BCa/17/33 and moved the recommendation which was seconded by Councillor Osborne.
In response to questions the Cabinet Member for Economy, with the help from the Economic Development Officer, explained the reason why Ipswich Borough Council had requested a Memorandum of Understanding was because of the large amount of money being invested. This was standard practice and a breakdown of business rates could be provided. There would be an opportunity to bid for additional funds in the future.
By an unanimous vote.
It was RESOLVED: -
(2) That the Assistant Directors as alternative delegation for signature on legal documentation in respect of Enterprise Zone site delivery within the Districts be approved.
(3) That continued negotiations between BDC and IBC to agree Memorandum of Understanding regarding passporting of Fund B monies in respect of Sproughton Enterprise Park (Enterprise Zone Site) be approved.
Reason for Decisions: To encourage the development of employment sites and other business growth in appropriate locations. To encourage investment in infrastructure.