Decision details

The Committee gave consideration to a report providing an update on the Rural Growth Deal.  The report also sought approval to commit further financial resources to support the development of project business cases and associated project feasibility and development work.

Decision

The Policy and Resources Committee –

1.    Noted progress of the Rural Growth Deal to date, upcoming milestones and the emerging draft full deal documentation included in Appendices 1-3 to the submitted report.

2.    Approved a further drawdown of funding from the Inward Investment Fund (circa £150k). 

3.    Agreed that authority for approving the drawdown of this funding is delegated to the Chief Executive and 2 Executive Directors of the Council up to a maximum value of £150k and subject to them being satisfied that the monies are for the purpose of delivering the Rural Growth Deal. Any further funding required in excess of the approved value would require further approval from the Policy and Resources Committee.

(Reference: Report by Executive Director with responsibility for Development and Economic Growth dated 18 January 2022, submitted)