Decision

Having been duly proposed and seconded, the Executive Resolved to:-

·       Note the share of Heart of the South West (HotSW) Local Enterprise Partnership (LEP) Legacy funds currently held and available for Somerset Council’s (SC’s) use as well as potential future further SC shares of HotSW LEP Legacy funds as set out in paragraphs 18-20 of this report;

·       Approve that the £5,223,909 (£624,415 revenue and £4,599,494 capital) share of HotSW LEP Legacy funds currently available for SC’s use, as well as any further SC share/s of HotSW LEP Legacy Funds as described at paragraphs 19 and 20 of this report, were deployed for strategic economic development actions which were in line with the Somerset Economic Prosperity Strategy 2025-2045 and paragraph 22 of this report.

·       Endorse proposed next steps in relation to SC’s use of its share/s of HotSW LEP Legacy Funds as set out at paragraph 23 of this report.