Purpose

There is a requirement to
reallocate funding within the Towns Fund monies of the
Simplification Pathfinder Pilot. Two aborted projects from the
approved Margate Town Deal programme mean that there is funding
within the programme to reallocate to other projects.
 
As set out by Cabinet in
September, 2023 the funding will remain in Margate and will be used
to support the delivery of projects within the programme.
£500,000 is available within the Coastal Wellbeing
Intervention and will be used to help deal with challenges from
inflation impacting the Walpole Bay Pavillion and the Skatepark. £4,000,000 from the aborted
Destination Dreamland project will be reallocated within the
Diversifying Heritage Assets intervention.
 
As the Accountable Body for the
projects within the Simplification Pathfinder Pilot the council is
the ultimate decision maker, however this is following engagement
with the new Thanet Regeneration Partnership Board and the
Department for Levelling Up, Communities and Housing.

Decision

Cabinet approval to:
 
1. 
Note that moving funding between themes and projects up to a value
of £5,000,000 is permissible under the Simplification
Pathfinder Project;
 
2. 
Note that the reallocation of the Destination Dreamland project
fund has been discussed and agreed within the Simplification
Pathfinder Project;
 
3. 
Agree that the £4,000,000 from the aborted Destination
Dreamland Project now be reallocated to a scheme for the Margate
Winter Gardens;
 
4. 
Agree that the £325,000 from the aborted project on the
Coastal Wellbeing intervention be reallocated to the Walpole Bay
Pavillion project;
 
5. 
Agree that the £175,000 from the aborted project in the
Coastal Wellbeing intervention be reallocated to the Skatepark project.