Decision details

(Report of Chief Executive)

The report set out progress to date with regards the use of Additional Restrictions Grant (ARG) to support local businesses and outlined proposals for the future application of the remaining funding in order to support resilience and recovery during the period up to March 2022.

Additional Restrictions Grant funding had been provided by Government predominantly to distribute financial assistance to local businesses that met the required eligibility criteria, as well as to provide ‘wider business support’.   Guidance indicated that at least 80% was to be spent on direct grant assistance to eligible businesses within the Borough and any remainder to be spent on direct business support.   The approach proposed for the short term (April – June 2021) and medium term (July 2021 – March 2022) established some key principles for this fund to ensure that the funding was spent in a timely manner on support that was helpful to local businesses and also met the key objectives of the Borough Council.

Following consideration by the Economic Regeneration Advisory Board, the Cabinet Member for Economic Regeneration resolved that:

(1)          the report be noted;  and

(2)          the outline approach to the allocation of Additional Restrictions Grant for the short term (April – June) and the medium term (July – March) during 2021/22, as detailed in paragraph 1.4.2 of the report, be endorsed.