Issue - meetings

Proposal for a Gloucester Business Growth Grant scheme

Meeting: 11/01/2017 - Cabinet (Item 60)

60 Proposal for a Gloucester Business Growth Grant scheme pdf icon PDF 729 KB

To consider the report of the Cabinet Member for Regeneration  and Economy seeking approval to establish a new Gloucester Business Growth Grant Scheme from 2017/2018, replacing the current Business Grants scheme.

Decision:

RESOLVED:

 

1.    A Gloucester Business Growth Grant Scheme be established as set out in the report.

 

2.    The Scheme Criteria set out in the report be approved

 

3.    £51,685 from the City Centre Investment Fund, together with remaining monies from historic DCLG funding and unallocated income from the Broadband Voucher scheme be allocated to fund the scheme.

 

4.    Authority be delegated to the Regeneration and Economic Development Manager, in consultation with the Head of Regeneration and Economic Development, to make decisions on the award of Business Growth Grants based on assessment against the agreed scheme criteria.

 

Minutes:

Cabinet considered the report of the Cabinet Member for Regeneration and Economy (Councillor James) which sought approval to establish a new Gloucester Business Growth Grant Scheme from 2017/2018, replacing the current Business Grants scheme.

 

Councillor James highlighted key areas of the report, noting that existing scheme had demonstrated positive beneficial impact for a significant number of business and had generated 743 jobs. He reported that the new scheme had been designed to simplify the process and incorporated a clause that would allow the grant to become repayable in certain circumstances as outlined in the report. He advised that this money would then be re-invested back into the scheme commenting that funding would support capital costs rather than rent or business rates costs as in the original scheme. He concluded by noting that applicants within the primary retail area would be eligible for up to 50% of funding, whilst those outside of the primary retail area would be eligible for up to 30% funding, to ensure that the City Centre continued to remain the area of focus.

 

Cabinet Members welcomed the simplification of the overall process and stressed the continued importance of prioritising the City Centre.

 

RESOLVED:

 

1.    A Gloucester Business Growth Grant Scheme be established as set out in the report.

 

2.    The Scheme Criteria set out in the report be approved

 

3.    £51,685 from the City Centre Investment Fund, together with remaining monies from historic DCLG funding and unallocated income from the Broadband Voucher scheme be allocated to fund the scheme.

 

4.    Authority be delegated to the Regeneration and Economic Development Manager, in consultation with the Head of Regeneration and Economic Development, to make decisions on the award of Business Growth Grants based on assessment against the agreed scheme criteria.