That:

(a)       the council enters into a funding agreement with MHCLG to deliver the £3.43m Marches Business  Investment Programme across Herefordshire, Shropshire and Telford & Wrekin Council areas, acting as accountable body for the programme; and

(b)       the council provide forward funding grant payments to SMEs of up to £150k per grant claimant with a maximum of £500k advance payments at any one time, pending receipt of funds from MHCLG; and

(c)        the Acting Director of Economy and Place be authorised to sign the MHCLG funding agreement to Herefordshire Council and approve any variations to the programme requested by the Programme Team; and

(d)       the Head of Economic Development be authorised to sign all sub grant agreements to businesses and take day to day operational decisions, including variations to any sub grant agreements.