Decision details

The Committee gave consideration to a report providing an update on the Place Based Investment Programme allocation for the years 2021/22, 2022/23 and 2023/24 as well as the allocations agreed to individual projects and any subsequent change that had to be made as well as an update on progress of each project.

Decision

The Policy and Resources Committee -

1.    noted the allocation of Place Based Investment funding provided from the period 2021-2024;

2.    noted the agreed allocation of the Place Based Investment funding during the period 2021-2024 to the projects in Table 1 of the submitted report;

3.    approved any amendments to the funding allocation as detailed in paragraph 4.9 of the submitted report;

4.    noted the update on each of the individual projects as detailed in Table 1 of the submitted report; and

5.    agreed a delegation of powers to the Executive Director with responsibility for Development and Economic Growth to allow any subsequent amendment to approved Place Based Investment Programme grant allocations to ensure that any risk relating to payback of any grant is minimised; noting that it may involve swapping Place Based Investment Programme allocations with Crown Estate allocation of grants against individual projects but would not affect the projects but simply the grant source.

(Reference:  Report by Executive Director with responsibility for Development and Economic Growth dated September 2023, submitted)