Purpose

To seek approval on the revised Governance and
Decision Making arrangements for the Gloucestershire Infrastructure
Investment Fund, as part of the transfer of LEP Functions
previously agreed by Cabinet.

Decision

Cllr Julian Tooke sought Cabinet
approval for a revised Governance and Decision Making Process that
will apply in relation to expressions of interest received for
funding from the Gloucestershire Infrastructure Investment Fund
(GIIF), as part of the transfer of LEP Functions previously agreed
by Cabinet.
 
 
 
 
Having considered all of the
information, Cabinet noted the report and

RESOLVED to:
 
 
 

a) Approve the revised Governance and Decision
Making process set out in Appendix A to this report, that will
apply with effect from the decision date, in relation to
expressions of interest for a loan from the Gloucestershire
Infrastructure Investment Fund (“GIIF”);

 

b) Delegate authority to the Director of Economy and
Environment, in consultation with the Cabinet Member for Business,
Economic Development, Planning and Infrastructure, the Section 151
Officer and the Monitoring Officer to implement the changes and the
management of the GIIF.
 

c) Delegate authority to the Director of Economy and
Environment, in consultation with the Cabinet Member for Business,
Economic Development, Planning and Infrastructure, the Section 151
Officer and the Monitoring Officer for a period of 3 years from the
date of this decision, to award loans under the scheme up to a
value of £3m per loan and a total overall value of £9m
over the 3 year period.