Decision Maker: Mid Suffolk Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To agree the Business Rate Retention Policy and Business Rate Relief Policy
It was RESOLVED: -
1.1 That delegated authority is given to the Monitoring Officer in consultation with the Director for Economic Growth & Climate Change and in consultatiowith the Cabinet Members for Economic Growth and Finance to endorse the Memorandum of Understanding on behalf of the Council.
1.2 That Cabinet approve the Freeport East Retained Rates policy with authority being given to the Council’s S151 Officer in consultation with the Operations Manager SRP and Director for Economic Growth & Climate Change to make changes to the policy, in consultation with the relevant Portfolio Holders, to ensure it meets the criteria set by the Council and in line with updated Government guidance.
1.3 That Cabinet approve the Business Rate Relief policy, with authority being given to the Council’s S151 Officer in consultation with the Operations Manager SRP and Director for Economic Growth & Climate Change to make changes to the policy, in consultation with the relevant Portfolio Holders, to ensure it meets the criteria set by the Council and in line with updated Government guidance.
REASON FOR DECISION
This once in a generation opportunity will leverage in substantial additional funding to support the delivery of G14 alongside providing investment in skills, infrastructure and investment projects in the wider area to support the Levelling Up agenda and provide opportunities for all and true inclusive growth for our communities.
Alternative Options Considered and Rejected:
Proceed as per recommendations to endorse the MOU and approve the Business Rate Relief Policy and the Freeport East Retained Rates Policy. This is the preferred approach as it aligns to the decision process of other Freeport partners and ensures that Mid Suffolk District Council play an active role in the delivery of Freeport East.
1.4 The Cabinet could choose not to endorse the MOU or approve the Policies. However, as the aspirations within the Freeport East proposal are closely aligned to the Council’s own strategic priorities and it is a mandatory requirement that all Billing Authorities complete this process, this would not be appropriate.
1.5 The Cabinet could choose to delay making a decision, however, the Government’s timeline for approval of the MOU is fixed and there is a requirement to have appropriate business rate policies in place prior to first occupation of the Tax Sites. Delay could undermine Freeport East’s wider negotiations with Government and potentially limit access for potential tenants at G14 to key Freeport related incentives.
Any Declarations of Interests Declared:Councillor Whitehead declared an Other Registrable Interest due to being a Director of Gateway 14 Ltd.
Councillor Richardson Declared an Other Registrable Interests due to being a Non-Executive Director of Freeport East Limited Supervisory Board.
Any Dispensation Granted: Dispensation had been granted by the Monitoring Officer.
Publication date: 11/01/2023
Date of decision: 09/01/2023
Decided at meeting: 09/01/2023 - Mid Suffolk Cabinet
Effective from: 19/01/2023
Accompanying Documents: