Transfer of Local Growth Funds for new model in technology and engineering (NMiTE) Phase 2
Decision Maker: Cabinet member finance and corporate services
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To enable the accountable body, Shropshire Council, to delegate responsibility for the managing of the Local Growth Fund (LGF) grant and the relationship with the successful grant applicant (NMiTE) to the council. The full grant amount of £5.66m for Phase 2 of the NMITE project will be transferred from the accountable body to the council in advance of project delivery.
The grant funding will be utilised to develop a Centre for Advanced Timber Technologies and Centre for Automated Manufacturing on the Herefordshire Enterprise Zone.
(a) Herefordshire Council accept by 31 March 2020 delegated responsibility for the managing of the £5.66m Local Growth Fund (LGF) grant and the relationship with NMiTE for Phase 2 of the NMITE project.
(b) the chief finance officer be authorised, following consultation with the monitoring officer and cabinet member, to complete such legal documentation as is appropriate to protect the council’s interests and take all operational decisions necessary to implement the above recommendations.
Alternative options considered:
1. To not accept the delegation by 31 March 2020, this would result in the loss of LGF grant funding of £5.66m allocated to NMiTE and the provision of a Centre for Advanced Timber Technologies and Centre for Automated Manufacturing on the Herefordshire Enterprise Zone.
Reason Key: Expenditure;
Wards Affected: (All Wards);
Contact: Josie Rushgrove, Head of corporate finance Email: firstname.lastname@example.org Tel: 01432 261867.
Urgent item?: Yes
Publication date: 25/03/2020
Date of decision: 25/03/2020
Effective from: 02/04/2020