Purpose

he purpose of the report is to set out and
agree an investment framework for the Northumberland Growth and
Investment Fund Endowment Fund.

Content

RESOLVED
that Cabinet:
 

Note the proposals in relation to
the Northumberland Growth and Investment Endowment
Fund;
Endorse the Northumberland Growth and Investment Endowment Fund
Investment Framework as set out in section 6 of this
report;
Approve the creation of an earmarked reserve into which any
receipts relating to the NEP3 transaction will be
paid;
Note
that the GIEF framework and any expenditure from the fund will be
subject to Council approval in February 2025 as part of the budget
and policy framework for 2025/56;
Delegate authority to the Executive Director of Place and
Regeneration to initiate detailed pipeline development in line with
the Investment Framework set out in section 6 of this report;
and
Agree
to receive a further report in advance of the fund launch in
2025/26 setting out a detailed programme approach to mobilisation
of the Northumberland Growth and Investment Endowment Fund in line
with the Investment Framework set out in section 6 of this
report.