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:
The decision was supported by the following reason: