Issue - meetings
BUSINESS RATE PILOT PROJECTS - FINANCIAL SUSTAINABILITY AND INFRASTRUCTURE
Meeting: 18/06/2019 - Cabinet (Item 12)
12 BUSINESS RATE PILOT PROJECTS - FINANCIAL SUSTAINABILITY AND INFRASTRUCTURE 
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Report of the Strategic Director of Housing and Customer Services
Presented by the Corporate Portfolio Holder
Minutes:
The Corporate Portfolio Holder presented the report to Members.
He reminded Members that in 2018 the Council was successful in its bid along with all other Local Authorities across Leicestershire to take part in the 2019/20 75% Business Rate Retention Pilot. He advised that at the time of developing the 2019/20 budget, the total additional amount to be retained in Leicestershire was estimated to be £13.8m. The revised estimate is now £14.6m after setting business rates bases for the year and that the allocation principles between the County, Leicestershire Fire and Rescue Service, City and all Districts were agreed prior to submission of the bid and NWLDC Cabinet considered that at its meeting in September 2018.
He informed Cabinet that the Council included an assumption of £550k additional funding and corresponding expenditure in the 2019/20 Budget and in line with the bid, the funds must be spent on ‘infrastructure’ and/or ‘financial sustainability’ projects.
He asked Members to approve the expenditure of the confirmed £597k of funding on four projects set out in section 2 of the report and that any additional funding confirmed would be reported in forthcoming quarterly performance reports. The projects were:
- £517k or the remaining balance on Marlborough Square to support delivery of the planned improvements
- £50k to fund a Green Transport feasibility study, looking at greener, non-car alternatives
- £15k towards Digital Customer Services to aid a more efficient digitalised service
- £15k to fund 2 homeless prevention bed spaces to accommodate single people requiring accommodation. The Council currently utilises bed and breakfast for temporary homeless accommodation that was unsuitable and costly. The proposal would provide a more supportive environment and also reduce costs.
Councillor A Woodman welcomed the Green transport study and hoped that some of the funds could be used re-open the Ivanhoe line.
Councillor R D Bayliss noted the amount allocated to fund 2 homeless prevention bed spaces adding that it was a small amount but much needed.
It was moved by Councillor N J Rushton, seconded by Councillor A Woodman and
RESOLVED THAT:
The allocation of the forecast £597,000 Business Rates Funding to projects as set out in the report be approved.
Reason for decision:- Cabinet approval of allocation of funds is required.