Agenda item

The Portfolio Holder for Growth and Prosperity to provide an update on the successful Levelling Up Funding Programme, to identify governance requirements and implications and to seek approval to accept the money and commence the work for implementation.

 

 

Cabinet:

1.    NOTED the successful outcome from the Levelling Up Fund (LUF) bid.

2.    NOTED that in line with prior approvals and the bid submission, that, subject to Rutland County Council (RCC) approval, RCC will be the ‘Lead Authority’ and accountable body for the funding and endorse their acceptance of the required grant agreements with DHLUC.

3.    Subject to council approval of recommendation 4:

3.1. APPROVED entry into the necessary and relevant legal agreements with Rutland County Council to enable Melton Borough Council to access its share of the Levelling Up Fund.

3.2. APPROVED entry into an agreement with SMB Group to enable delivery of the theatre project as set out within the bid.

3.3.  DELEGATED authority to the Director for Corporate Services, in consultation with Portfolio Holder for Growth and Prosperity, to develop, finalise and sign any associated legal documentation in relation to the agreements set out in 2.3.1 and 2.3.2

3.4. DELEGATED authority to the Chief Executive, in consultation with the Leader of the Council, to agree any necessary amendments with DLUHC to enable the funding to be secured for Melton’s projects, should Rutland County Council be unable to fulfil the accountable body role.

3.5. NOTED that regular updates on progress on the LUF programme will be provided to the LUF Executive Board 

4.    RECOMMENDED to Council:

4.1. The acceptance of Melton’s proportion of the LUF funding and approval to enter the capital scheme for the Stockyard project totalling £11.1m to the capital programme for 2023/24 to enable its delivery.

4.2. The Approval to provide match funding of £1m through capital receipts, and if not possible, fund through borrowing.

4.3. That authority be delegated to the Director for Corporate Services to update the capital programme with the spend profile across the relevant financial years for the Stockyard project once the detailed budget plan has been prepared.

Director for Growth and Regeneration introduced the report the purpose of which provided Members with an update on the successful Levelling Up Funding programme, and the key Melton specific projects within it. It also sets out governance requirements, obligations and implications and seeking approval to commence the work for implementation.

 

The Portfolio Holder for Growth and Prosperity said that the relevance of the paper is about the governance of the funding, how it will meet the targets and the need to consider the risks involved and how we will be able to deliver and be accountable, Officers have worked hard along with Rutland County Council to ensure we are able to deliver, and the work will fit within the framework we already have. This funding will give great opportunity to the town and borough particularly when coupled with the UKSPF funding and will turn a vision into a reality.

 

During the discussion the following points were raised

 

1. The Parish Councils need to be involved in the discussions regarding the local transport -  Assurance was given that Parish Councils and Members will be involved with the decisions made.

 

2. Determine which villages will be serviced by this proposed transport and is a map available -  Members were advised that a conception map is available with the proposed transport services.

 

3. As it is such a big project confirm that Audit and Scrutiny will be looking at this project -  this is being considered at the next Audit and Standards meeting.

 

4. Ensure that increased building costs had been taken into consideration when submitting the bids - assurances were given that costs will be considered and reviewed during the project.

 

5. It is hoped that Melton Borough Council will benefit from the increased prosperity with the success of the Stockyard – Confirmation was given that the new units will generate additional income.

 

The Leader gave thanks to the local MP for her hard work in respect to the funding. He also gave thanks to all the Officers involved as they had put a lot of time and effort in getting this bid ready.

 

 

Cabinet:

1.    NOTED the successful outcome from the Levelling Up Fund (LUF) bid.

2.    NOTED that in line with prior approvals and the bid submission, that, subject to Rutland County Council (RCC) approval, RCC will be the ‘Lead Authority’ and accountable body for the funding and endorse their acceptance of the required grant agreements with DHLUC.

3.    Subject to council approval of recommendation 4:

3.1. APPROVED entry into the necessary and relevant legal agreements with Rutland County Council to enable Melton Borough Council to access its share of the Levelling Up Fund.

3.2. APPROVED entry into an agreement with SMB Group to enable delivery of the theatre project as set out within the bid.

3.3. DELEGATED authority to the Director for Corporate Services, in consultation with Portfolio Holder for Growth and Prosperity, to develop, finalise and sign any associated legal documentation in relation to the agreements set out in 2.3.1 and 2.3.2

3.4. DELEGATED authority to the Chief Executive, in consultation with the Leader of the Council, to agree any necessary amendments with DLUHC to enable the funding to be secured for Melton’s projects, should Rutland County Council be unable to fulfil the accountable body role.

3.5. NOTED that regular updates on progress on the LUF programme will be provided to the LUF Executive Board 

4.    RECOMMENDED to Council:

4.1. The acceptance of Melton’s proportion of the LUF funding and approval to enter the capital scheme for the Stockyard project totalling £11.1m to the capital programme for 2023/24 to enable its delivery.

4.2. The Approval to provide match funding of £1m through capital receipts, and if not possible, fund through borrowing.

4.3. That authority be delegated to the Director for Corporate Services to update the capital programme with the spend profile across the relevant financial years for the Stockyard project once the detailed budget plan has been prepared.

 

Reason for Recommendations

 

In June 2022, the Cabinet approved the submission of a joint Levelling Up Fund bid with Rutland County Council. In January 2023, the Councils were advised the bid had been successful. The Councils now need to enter into the required agreements with the government and each other to enable the funding to be secured and the investment delivered.

 

Delivering sustainable and inclusive growth in Melton is a key priority in the Council’s Corporate Strategy 2020-2024. The Levelling Up Funding bid is focussed on delivering the promise of Melton Mowbray being the ‘Rural Capital of Food’. The interventions delivered through this grant funding will help regenerate the town centre, create a destination offer within the town, encourage inward investment, and create additional jobs in key economic sectors such as tourism and food production.

 

The projects to be delivered are part of the Town Centre Vision created by working extensively with local stakeholders and businesses and approved and adopted by the Council in 2022. These projects will contribute significantly to achieve the vision and objectives set out in this document.

 

The Stockyard site will be redeveloped for accommodating more food and drink production businesses and to improve the events infrastructure to enable Melton to expand existing and attract larger events such as food festivals all year around.

 

Improvements to the theatre will help hosting commercial productions to enhance the cultural offer for the town and also support the towns growing evening economy.

 

The demand responsive transport linking the key towns of Oakham and Melton will complete the offer by linking the towns and rural hinterlands to better enable access from more rural areas. This will help increase footfall and help attract new and repeat visitors.

 

Outcomes and outputs of this project will also contribute significantly towards achieving the objectives of the Council’s Asset Development Programme.