Toggle menu

Councillors and committees

Issue - meetings

North East Business and Innovation Growth Fund

Meeting: 25/02/2020 - Cabinet (Item 134)

North East Business and Innovation Growth Fund

Report of the Acting Strategic Director, Economy, Innovation and Design

 

Minutes:

Consideration has been given to the submission of a full application for funds from the European Regional Development Fund (ERDF) to deliver a project that will promote economic growth and job creation through the provision of a grant fund for businesses.

 

RESOLVED -

(i)         That the submission of an application to the Ministry of             Housing, Communities and Local Government for ERDF             funding by the Acting Strategic Director, Economy,             Innovation and Growth, in consultation with the Strategic             Directors, Resources and Digital and Corporate Services             and Governance, be approved.

 

 

(ii)        That subject to Ministry of Housing, Communities and             Local Government approval, the Acting Strategic Director,             Economy, Innovation and Growth be authorised to accept             the funding, following consultation with the Strategic             Directors, Resources and Digital and Corporate Services             and Governance, and to approve the subsequent delivery             of the project.

 

 

(iii)       That the Council enter into an appropriate legally binding             agreement, the form of which is to be approved by the             Strategic Director, Corporate Services and Governance,             with Umi Commercial Limited as delivery partner.

 

 

(iv)       That the Council enter into an appropriate agreement, the             form of which is to be approved by the Strategic Director,             Corporate Services and Governance, with South Tyneside             Council and Sunderland City Council as strategic partners.

 

The above decisions have been made for the following reasons:

 

 

(A)       To maximise opportunities for economic growth and job      creation in Gateshead, South Tyneside and Sunderland      local authority areas.

 

 

(B)       To maximise opportunities to secure external funding to      deliver strategic priorities.

 


 

Help us improve this site by giving feedback