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