To approve a decision to spend £5.432k of LEP funding that was allocated to further develop the Hereford Enterprise Zone
Decision Maker: Cabinet member environment, economy and skills
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The council has been successful in bidding for and securing £5,432k Growth Deal funding from The Marches Local Enterprise Partnership (LEP) to undertake additional infrastructure work at Hereford Enterprise Zone (HEZ). This report seeks approval for the funds to be spent to deliver that additional infrastructure.
(a) the spending of £5,432k funding from Marches LEP on HEZ infrastructure works as detailed within this report is approved.
(b) The Enterprise Zone Phase 5 budget allocation is then reduced by £1,053k as these funds are no longer required; and
(c) The Director of Economy and Place be authorised to implement recommendation (a) including the procurement and commissioning of new projects in consultation with the S151 Officer.
Alternative options considered:
1. Reject decision to spend the £5,432k funding and do not accept funds from The Marches LEP. Continue to prepare the North Magazine as a whole using the existing allocated council funds and without scope for inclusion of the sustainable travel measures.
2. The existing council allocated HEZ budget will be sufficient to install the basic infrastructure to the North Magazine to enable it to be sold as a single plot, but not to assist the sub-division of the area, ready to meet known investment interest.
3. If the spend of the Growth Deal funding is not approved as suggested, there is potential for reputational impact to the council, of the relationship with the local community, The Marches LEP, and Government, each of whom are stakeholders in the broader HEZ project. The Marches LEP and Government are likely to ask for an explanation for the decision and an assessment of and impact on objectives. The consequence would be to not carry out the full works or make the case to the full Council for additional council money to fund these works.
Reason Key: Expenditure;
Wards Affected: Dinedor Hill;
Contact: Neil Batt, Enterprise Zone Capital Programme Manager Email: Neil.Batt@herefordshire.gov.uk Tel: 01432 383694.
Publication date: 05/10/2020
Date of decision: 05/10/2020
Effective from: 10/10/2020