Issue - meetings

Report of the Leader detailing the SRB2 Regeneration Programme Succession Strategy, attached. 

DECISION MADE: (Ref: CAB 13/14 10800)

On consideration of the report of the Leader of the Council, Cabinet agreed the following:

(i)  To award a grant of £386,000 to West Itchen Community Trust for the refurbishment of the Acorn Enterprise Centre in Empress Road subject to:

• Satisfactory appraisal of the WICT business plan relating to Acorn Enterprise Centre;
• Confirmation of the type and financial cost of proposed grant funded works by a suitably qualified Property Surveyor; and
• Confirmation of co-investment/match funding on behalf of WICT and of the works programme.

(ii)  To delegate authority to the Director of Environment and Economic Development following consultation with the Head of Legal, HR and Democratic Services, to enter into a grant agreement with West Itchen Community Trust and to do anything necessary to give effect to the payment of the grant.

(iii)  To protect grant monies through the placement of a Legal Charge for 10 years from the date of issue, on Acorn Enterprise Centre.

(iv)  To add, in accordance with Financial Procedure Rules, a sum of £386,000 to the Leader’s Capital Programme, for a capital grant towards works at the Acorn Enterprise Centre.

(v)  To approve, in accordance with Financial Procedure Rules, capital expenditure of £386,000 in 2013/14 from the Leader’s Capital Programme to award a capital grant.