Agenda and minutes

To determine during which items, if any, the public are to be excluded from the meeting and then if relevant to consider the exclusion of the public from the meeting before discussion takes place on relevant items of business on the grounds that in view of the nature of the business to be transacted if the public were present there would be a disclosure to them of exempt information within the meaning of Part VA of the Local Government Act 1972.

Members determined that for the item on the agenda relating to the Levelling Up Fund Bid the public were not to be excluded from the meeting.

To seek approval for a submission (and if successful acceptance) to the Levelling Up Fund including a matched funding contribution from the Council.

PURPOSE

The purpose of this report is to seek Executive approval for a submission (and if successful acceptance) to the Levelling Up Fund including a matched funding contribution from the Council.

Members were informed of the following amendments to the financial information provided in the report;

Paragraph 15-replace 17.1M with 18.5M and replace 12M with 11.6M

Paragraph 16-replace 26.26M with 28M and replace 20M with 19.9M

Paragraph 17-add a benefit to cost ratio of 3.6 to 1. 

REASON FOR DECISION

The Levelling Up Fund presents an opportunity to bring significant investment to the borough to deliver key projects set out in the Town Centre and Canalside Masterplan and the Burnley Economic Recovery and Growth Plan.

The Levelling Up Fund requires matched funding of a minimum of 10% of total costs.

DECISION

(1)  That the Levelling Up Fund Bid as set out in this report, as amended, be approved;

(2)  That the use of the Town Centre Masterplan budget for match funding, as outlined in the report, be approved;

(3)  That Delegated authority be given to the Chief Executive to finalise the content and submit the Bid;

(4)  That Delegated authority be given to the Chief Executive in consultation with the Leader to accept the grant funding if the Bid is successful;

(5)  That Delegated authority be given to the Chief Executive to negotiate terms of the grant funding;

(6)  That Delegated authority be given to the Chief Executive to negotiate terms of any corresponding agreements with organisations including (without limitation) UCLan, Lancashire County Council, Network Rail and Community Rail Lancashire if the Bid is successful;

(7)  That Delegated authority be given to the Head of Legal & Democratic Services to execute all documents necessary to give effect to this decision,if the Bid is successful; and

(8)  That the Economy and Growth Service Unit, and all the partners involved, be thanked for the work done on the Levelling Up Fund Bid.

In accordance with and following the requirements set out in Paragraph 15 of Part 4.5 of the constitution regarding the agreement provided by the Chair of Scrutiny, it is stated that in the opinion of the Executive this decision is an urgent one and therefore not subject to call-in.