(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.