Decision details
MARCHES ENTERPRISE ZONE
PDF 53 KBDecision Maker: Marches Enterprise Joint Committee
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To consider the outcome of a review of options and agree mechanisms for accelerating delivery of the enterprise zone.
Decision:
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THAT: the Joint Committee (a) approve Scenario 3, as outlined in this report, as the investment approach to take, with an amendment to provide £100k a year from the additional business rates to help meet LEP running costs from 2016/17 onwards for the duration of the model; (b) business rates generated by the enterprise zone be used to fund the additional investment required; (c) recognise that the enterprise zone funding stream is one of the potential sources for the Wye river crossing, but that this funding need not be quantified at this time; and (d) ask Herefordshire Council to keep the Marches LEP board informed of progress with the implementation of the Herefordshire Local Development Framework. |
Reasons for the decision:
To ensure benefits of an enterprise zone within the Marches LEP area are maximised.
Alternative options considered:
The alternative scenarios explored by DTZ were set out in the report.
Reason Key: Expenditure;
Wards Affected: (All Wards);
Publication date: 11/12/2014
Date of decision: 11/12/2014
Effective from: 17/12/2014
Accompanying Documents: