The exempt report of the Strategic Director – Regeneration and Environment seeks approval to provide a grant to the company named in the report to assist towards the business project being undertaken.

The report advises that the project to which it refers is time critical and for commercial reasons a decision is required prior to the next meeting of the Cabinet.

Resolved -

(1)  That a grant, paid from the date of the signing of the legal agreement, be approved towards the business project being undertaken by the company named within the report.

(2)  That the Head of Legal and Member Services be authorised to draw up and sign a legal agreement between the Council and the business based upon the content of this report and subject to the detailed contracting process.

(3)  That payment of RGF grant be made on defrayment at an initial higher intervention rate in order to ensure that funding can be defrayed to the business within the programme timescales.