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Decision details

Transfer of Kent Escalate RGF 4 for incorporation into the East Sussex Invest 5 fund.

Decision Maker: Lead Member for Economy

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

Responsibility for Regional Growth Fund monies previously administered by Kent County Council

Decisions:

3.1       The Lead Member considered a report by the Director of Communities, Economy and Transport.

 

DECISIONS

 

3.2       RESOLVED to (1) approve in principle the entering into of a contract between East Sussex County Council and Kent County Council where ESCC will accept the Regional Growth Fund 4 loan repayments made to KCC to redistribute as loans to businesses in Wealden and Rother; and

 

(2) delegate authority to the Director of Communities, Economy and Transport in consultation with the Assistant Chief Executive to approve the final terms of the contract giving effect to (1) above.

 

Reasons

 

3.3       To avoid the loss of funding available the Ministry of Housing, Communities and Local Government has agreed that the funds returned to Kent County Council from East Sussex businesses can be transferred to East Sussex County Council to make further awards to businesses in Wealden and Rother.

 

Report author: Rupert Clubb

Publication date: 22/10/2018

Date of decision: 02/10/2018

Decided at meeting: 02/10/2018 - Lead Member for Economy

Effective from: 10/10/2018

Accompanying Documents: