This decision provides an update on the project, including the utilisation of ‘freedoms and flexibilities’ in 2020/21 and seeks agreement for NMITE to draw down the remaining grant fund in 2022/23.

That:

a) To approve the drawdown by NMITE from the council the remaining £2,472,556.15 of grant funding in 2022/23, noting that the council utilised ‘freedoms and flexibilities’ in March 2021 in relation to the Local Growth Fund grant to NMITE in accordance with the terms of the funding agreement letter from Shropshire Council, to enable the grant funds to be drawdown over a longer period to align with the period of construction.

1. The council could chose not to approve the drawdown of the remaining funds in 2022/23, This is not recommended. This is because this would result in the council failing to meet the requirements of being an accountable body for the fund, it would mean the current construction of the Centre for Advantaged Timber Technology and Centre for Advanced Manufacturing could not be completed (leaving an incomplete building) causing significant reputational damage to the council.