Purpose

To approve and delegate to the
Director of Economic Development the release and expenditure of
allocated capacity funding provided by MHCLG to develop a new
Regeneration Plan submission for Spalding.

Decision

That the following be
agreed:
 
1)   
To accept and release all revenue capacity funding
provided by Central Government, to support the development of a new
ten year regeneration plan for Spalding;

 
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 Leader of
the Council and in accordance with the 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 Spalding in
consultation with the Leader of the Council and in accordance with
the steer from the Town Board;
 
4)   
That draw down of up to £140,000 from the
Economic Growth Reserve in order to meet proposed spend for 25/26
outlined in section 3.3 be delegated to the interim Director of
Finance in consultation with the Leader of the Council and Director
of Economic Development

Reasons for the decision

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

Alternative options considered

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