Decision

To authorise the spend of £1,196,000 of
funds for the Healing the High Street project from Boston Town
Fund.
 
To delegate to the Interim Consultant for
Culture & Regeneration, in consultation with the Leader and
Section 151 Officer, authority to enter into grant funding
agreements and other relevant agreements required to secure and
obligate performance of grant to release the £1,196,000 of
funds for the Healing the High Street project from Boston Town
Fund.

Reasons for the decision

1.   
Healing the High Street is one of seven approved projects contained
within the approved Town Deal Investment Plan for Boston that were
awarded the following Central Government grant funding in March
2021, to run across financial years 2021/22 to 2025/26. The Healing
the High Street project is intended to transform Boston’s
historic town centre through a town centre regeneration programme.
The project will offer grants to building owners to invest in their
buildings, as well as directly funding adjacent public realm and
green space improvements.
 
2.   
To authorise grant expenditure of up to £1,196,000 of
external Towns Deal grant funding that is allocated to Boston
Borough Council as lead contracting authority and accountable body
for the approved Healing the High Street project and business
case.
 
3.   
The grant funding is to support the acquisition of Shodfriars Hall
acquisition by Scorers Hawkins Pension Trust and subsequent
programme of works to reinstate and repair the heritage
asset. 
 
4.   
To enable the completion and execution of the formal grant funding
agreements to meet compliance with the terms of the Boston Town
Fund requirements.
 
5.   
The grant funding agreements are provided by the Council’s
appointed legal advisors and include contractual provisions on
eligible works, grant payment mechanisms and the associated
expenditure requirements.
 
6.   
To ensure the grants have adequate security provisions and clawback
of funding arrangements if the eligible works and agree outputs are
not delivered by the grant recipient.
 
7.   
The project is approved by HM Government and previously approved by
Council to accept the grant funding and be amended into the Capital
Programme for delivery.
 
8.   
Subsequent Town Board reports and project adjustments have been
considered and agreed by the Boston Towns Board to amend the
allocation of individual grants to be awarded under the Towns Deal
award.

Alternative options considered

To do nothing – however Members have
already supported the principle of spending the Town Deal
award.
To divert the funding to another Town Deal
project – this is considered only as a path in default if not
appropriate opportunities arise subject to additional clearance by
the Ministry of Housing, Local Communities and Growth (MHCLG). All
Project Adjustment Requests, delegated or non-delegated, must be
submitted to MHCLG. The Department will then issue written
confirmation regarding whether the PAR is delegated or not before
any changes can proceed. All interventions must continue to meet
Towns Fund value for money requirements.