Decision

That
Cabinet:
 

a)       
notes the contents of the report, including the
updates associated with each funding programme, as well as future
anticipated updates detailed within this report;

 
Levelling
Up Fund 3 Grant from Government

 

b)       
delegated authority be given to the Director
- Planning & Growth and
Deputy Chief Executive and Director - Resources, to accept a
potential future LUF 3 grant offer via an Memorandum of
Understanding,, following a legal
assessment of the terms and conditions of grant funding, in
accordance with paragraph 1.20 of the report;
 

Ollerton Project:

c)         
approves an initial release of £500,000 of any
LUF 3 grant when received in accordance with b) above,
subject to a legal review of the terms and
conditions of the grant funding and in accordance with paragraph
1.22 of the report;

 

d)        
subject to b) above, delegated authority be given to
the Business Manager - Economic Growth & Visitor Economy of
additional spend from the approved Capital Budget beyond the
£500,000 detailed in c) above, subject only to securing legal
control of the required land, subject to planning, securing a match
funding resolution to any funding gap, in
accordance with paragraph 1.22 of the report;
 
Clipstone
Project:

e)        
delegated authority be given to the Business Manager
- Economic Growth & Visitor Economy to approve spend of the in
principle capital budget for Clipstone Phases 1-3, subject only to:
1) receipt of the full LUF 3 grant from Government as detailed in
b) above; 2) no demonstrable funding gap to deliver the scheme in
accordance with the Council’s approved Capital budget; and 3)
all required land-take to deliver that phase of the scheme being
secured or within control of the District Council
in accordance with paragraph 1.23 of the
report;
 
Long Term
Plan for Towns Fund
 

f)          
delegated authority be given to the Director -
Planning & Growth and Deputy Chief Executive and Director -
Resources, in consultation with the Newark Town Board, to accept a
future Long Term Plan for Towns Fund
grant offer of up to £20 million, subject to a review of the
terms and conditions, new guidance and the submission of the
Investment Plan; and
 

g)         
delegated authority be given to Deputy Chief
Executive and Director - Resources, in consultation with the Newark
Town Board, to approve grant awards in accordance with the Newark
Town Board’s Assurance Framework and Long-Term Plan for Towns
Investment Plan as detailed at paragraph 1.13 and Annex 1 of the
report.