Decision details

Cabinet

1)    NOTED the criteria and requirements for submitting a Levelling Up Fund bid;

2)    APPROVED the submission of a joint bid with Rutland County Council to maximise the chances of success, noting the shared emphasis on innovation and regenerating rural market towns;

3)    NOTED that Melton’s intended bid submission contains 3 town centre projects, 1 overseen by the Council to develop the Stockyard at the Cattle Market and 2 other town centre projects due to be delivered by partner agencies;

4)    APPROVED incorporation of all 3 projects within the bid submission, subject to them demonstrating they meet all requirements and maintain comparable confidence of delivery;

5)    DELEGATED authority to the Chief Executive, in consultation with the Portfolio Holder for Growth and Prosperity to finalise the configuration of the bid, ensuring the strongest possible submission.  Where individual projects do not meet the requirements set out in 2.4, to remove them from the submission;

6)    NOTED that should the Levelling Up Fund bid be successful, the Council will be required to include match funding of up to £1m which will need to either be met through capital receipts or borrowing. Confirmation of this funding will be through a subsequent decision and consideration of more detailed business case(s) setting out the financial and other implications;

7)    DELEGATED authority to the Chief Executive, in consultation with the Portfolio Holder for Growth and Prosperity to agree with Rutland Council, who the accountable body on behalf of both councils will be.  Notes that appropriate joint governance, resource requirements and legal agreements will be developed to support this arrangement.