Executive Member - Deputy Mayor/Executive Member for Resources Minutes

Executive Member - Deputy Mayor/Executive Member for Resources Minutes

Date:
Friday 7 March 2014
Time:
11:00 a.m.
Place:
Oberhausen Room,Town Hall, Middlesbrough
 

Attendance Details

Present:
Councillor D Budd
Officers:
Paul Slocombe and Sharron Brown
Item Number Item/Resolution
PUBLIC
13/17 REGIONAL GROWTH FUND ROUND 4 - CLAWBACK GUARANTEE

The Director of Transformation submitted a report that sought approval and a guarantee on the clawback risks for both the Regional Growth Fund Round 4 Tees Valley Skills and Apprenticeship Programme and the Business Growth Hub grant. This would have been based on the Tees Valley population split with the grants to be delivered by Tees Valley Unlimited (TVU) with Stockton-on-Tees Council acting as the accountable body for the grant.

 

TVU had been successful in receiving two offers of grant from the Regional Growth Fund, which was outlined in fruther detail within the report.

 

The report outlined that there were two options available:

  1. Option 1 - Sign the letter for the grant, this is the preferred option; and
  2. Option 2 - Do not sign the letter for the grant, this is not recommended.

ORDERED

  1. That the provision of a guarantee of £1.96m to Stockton-on-Tees Council in respect of the recent Regional Growth Fund bid and the signing of relevant documentation as referred to in this report, be approved.

REASON

 

The decision was supported by the following reason:

  1. Additional funding of £9.4m is to be made available to the Tees Valley from the Regional Growth Fund. The grant requires a commitment to guarantee any clawback across the relevant local Authorities.
The decision(s) will come into force with immediate effect and are not subject to scrutiny call-in procedures.
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