Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To receive an update on the Future High Streets Fund bid.
Councillor Steve Evans presented the update report on the Future High Streets Fund (FHSF) award. The Government had made an in principle offer to the Council of £15.76 million, announced on 26 December 2021. This represented 69% of the Council’s ask from the FHSF. The report set out a revised City Centre West FHSF programme based on the in principle offer. Councillor Evans placed on records his thanks to the Council’s officers for their hard work in putting together a revised City Centre West FHSF programme within a tight time scale.
Councillor Stephen Simkins added that the in principle award presented a key opportunity to secure investment to support the delivery of Council priorities for City Centre West.
1. That the key projects that would form part of the revised City Centre West Future High Streets Fund Programme, to reflect the Government’s “in principle” funding offer be noted.
2. That the additional £5,000 supplementary revenue budget to be funded by grant be approved.
3. That authority be delegated to the Cabinet Members for Resources, City Environment and City Economy in consultation with Directors of Finance, City Environment and Regeneration to approve the submission to the Future High Street Fund by 26th February 2021 confirming the Council’s intention to request the full £15,760,196 provisionally allocated to the Council by the Fund.
4. That authority be delegated to the Cabinet Members for Resources, City Environment and City Economy in consultation with the Directors of Finance, City Environment and Regeneration to approve the creation of specific project budgets, including the required supplementary capital budgets funded by the grant.
5. That the business case for the Bell Street scheme which includes Box Park and Cleveland Street car park at Appendix 1 to the report be approved.
6. That the Council’s success in securing an “in principle” funding offer of £15.76 million from the Future High Streets Fund bid and the Council’s intent to accept the grant award in line with the delegation approved by Cabinet on 11 November 2020 be noted.
7. That the following proposed governance arrangements that would be established to cover the implementation of projects under the Future High Streets Fund programme. (i) a Future High Streets Steering Group to oversee the delivery of the key projects that would form part of the Future High Streets Fund programme, (ii) an internal officer team for each Future High Streets Fund project be noted.
8. That the approval of the virement of £600,000 from Corporate Contingency to the Future High Street Capital programme in the Capital Programme 2020-2021 to 2024-2025 Quarter Three Review and 2021-2022 to 2025-2026 Budget Strategy report also on today’s agenda; in order to meet the revised co-funding requirements, as detailed in the report be noted.
Report author: Zareena Ahmed-Shere
Publication date: 18/02/2021
Date of decision: 17/02/2021
Decided at meeting: 17/02/2021 - Cabinet
Effective from: 24/02/2021