Decision Maker: Babergh Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
It was RESOLVED:-
1.1 That a sum of £157,500 be agreed over a three year period from the unallocated sum from the Business rates pilot to fund a new grants programme from the financial year commencing April 2020.
1.2 That £150,000 of this sum be allocated over the three-year period to provide flexible capital funding to businesses, to be utilised by them to deliver improvements and change that enable the following outcomes:
· Create and sustain jobs;
· Enable the growth of innovation in our businesses;
· Create and retain commercial floorspace;
· Access professional advice and training;
· Access additional funding (both grants and loans);
· Improve business frontage and town centre streetscapes (impacting on footfall and visitor satisfaction);
· Encourage the development of technology-based business solutions;
· Improve environmental outcomes and carbon efficiencies;
· Improve disabled access; and
· React and be resilient to changing business landscape.
1.3 That Cabinet noted that the sum above of £157,500 included a 5% sum to be allocated to provide administrative support for the management of the programme.
1.4 That the Assistant Director for Economic Development and Regeneration, in consultation with the Cabinet Member for Economy should be granted delegated authority to agree details of the grant scheme and approval process.
Reason for Decision: To provide a comprehensive business support grant programme that will enable sustainable and sustained innovation and economic growth consistent across both Babergh and Mid Suffolk Council districts.
Alternative Options Considered and Rejected:
1.1 Option 1 – Do nothing.
1.2 Option 2 - Establish a broad programme of grant funding. This would enable a range of businesses and sectors to access support from the Council and also to maximise opportunities for them to match this with grant funding from other local and regional agencies.
Any Declarations of Interest Declared: None
Any Dispensation Granted: None
Publication date: 05/05/2020
Date of decision: 04/05/2020
Decided at meeting: 04/05/2020 - Babergh Cabinet
Effective from: 14/05/2020
Accompanying Documents: