Issue - meetings

This report gives an update on the Business Rates Retention Pilot and Business Rates Pool funding and puts forward possible priorities for funding in light of the impact of Covid-19.

(Report of Chief Executive)

The report provided an update on the Business Rates Retention Pilot and Business Rates Pool funding and advised that, following total or committed spend to date, £560,000 remained to fund initiatives which supported growth (subject to the support and agreement of the County Council).  Consideration was given to a number of potential initiatives (set out at Appendix 1 to the report) which reflected the need to strengthen the resilience of the local economy and the future of town centres in the light of the impact of Covid-19 and embraced economic and environmental opportunities arising from the green agenda.

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

(1)          the report be noted;

(2)          the initial options to support the local economy (as set out in Appendix 1 to the report) be approved; and

(3)          a list of proposed options for endorsement be reported to a future meeting of the Advisory Board prior to being shared with Kent County Council for its agreement.

Decision Notice D200058MEM

The report of the Chief Executive provided an update on the Business Rates Retention Pilot and Business Rates Pool funding and advised that, following total or committed spend to date, £560,000 remained to fund initiatives which supported growth (subject to the support and agreement of the County Council).  Consideration was given to a number of potential initiatives (set out at Appendix 1 to the report) which reflected the need to strengthen the resilience of the local economy and the future of town centres in the light of the impact of Covid-19 and embraced economic and environmental opportunities arising from the green agenda.

RECOMMENDED:  That

(1)          the report be noted;

(2)          the initial options to support the local economy (as set out in Appendix 1 to the report) be approved; and

(3)          a list of proposed options for endorsement be reported to a future meeting of the Advisory Board prior to being shared with Kent County Council for its agreement.