Purpose

To provide an update on work done so far and
approve the use of allocated capacity funding provided by MHCLG to
develop a new Regeneration Plan and Investment Plan for Boston for
submission as per Government guidance.

Decision

Resolved:
 
1.   
That all revenue capacity funding provided by Central Government
be accepted and released in order to support the development of a
new ten year regeneration plan for Boston;
 
2.   
That authority be delegated to the Director of Economic
Development to agree and expend all capacity funding provided by
Central Government, in consultation with the Portfolio Holder for
Economic Growth and a steer from the Town Board;
 
3.   
That authority be delegated to the Director of Economic
Development to approve and enter all of the necessary contractual
arrangements to progress the submission of a ten-year Regeneration
Plan and four year investment plan for Boston in consultation with
the Portfolio Holder for Economic Growth and a steer from the Town
Board;
 
4.   
That authority be delegated to the interim Director of Finance
in consultation with the Portfolio Holder for Economic Growth and
the Director of Economic Development, to draw down up to
£170,000 from the Economic Growth Reserve in order to meet
proposed spend for 25/26 outlined in section 3.3 within the report;
and
 
5.   
That authority be delegated to the interim Director of Finance
in consultation with the Portfolio Holder for Economic Growth and
the Director of Economic Development to draw down additional sums
from the balance sheet account up to £52,000.

Reasons for the decision

To enable officers to progress the development
of the Plan for Neighbourhoods. submission for Boston to meet the
time constraints of the programme.

Alternative options considered

·        
To not accept or allocate the grant funding for the intended
purpose; or
 
·        
To seek to identify and agree an alternative accountable body lead
for the Plan for Neighbourhoods programme.