Decision details

The Director of Economic Development and Planning submitted a report updating members on the recently announced Levelling Up Fund and seeking authority to submit a bid.

The bid application was circulated for information and the Director of Economic Development and Planning explained the cost implications for the Council as well as outlining the margins and contingencies, including the potential cost overruns and underwriting of any funding contributions expected from third parties.

Members of the Economic Development committee reported that the prospective bid had been well received and supported by that committee at their meeting.

RESOLVED THAT COMMITTEE:

1.    Confirm that the bid should be submitted as outlined to the Levelling Up Fund by 12 noon on Friday 18 June 2021 based on the cost assumptions, and

2.    Agree that the margins and contingencies as set out are acceptable noting that the Council accepts responsibility for meeting any costs over and above the contribution requested, including potential cost overruns and the underwriting of any funding contributions from third parties.