Issue - meetings

Report of the Cabinet Member for Economic Development and Leisure Services, seeking approval for matters relating to the Watermark West Quay site and the Regional Growth Fund, attached.

Report of the Cabinet Member for Economy and Leisure was submitted concerning Watermark WestQuay and the Regional Growth Fund.

RESOLVED

(i)  That approval be delegated to the Chief Financial Officer to enter into an agreement with the Secretary of State for Business, Innovation and Skills to receive Regional Growth Fund (RGF) grant to unlock the regeneration of Watermark WestQuay and for the Council to act as Lead Accountable Body;

(ii)  That if the application is successful, to accept the grant set out in the Confidential Appendix 1 to the report, from the Regional Growth Fund;

(iii)  That in accordance with Financial Procedure Rules, to add a sum set out in Confidential Appendix 1 to the report, to the Economic Development & Leisure capital programme for the regeneration of Watermark WestQuay;

(iv)  That in accordance with Financial Procedure Rules, to approve capital expenditure in 2014/15 and as set out in Confidential Appendix 1 to the report from the Economic Development & Leisure capital programme to award a capital grant for the regeneration of Watermark WestQuay; and

(v)  That approval be delegated to the Director of Environment & Economy to enter into a grant agreement with Hammerson to distribute RGF resources for the Watermark WestQuay scheme and to take all ancillary actions to give effect to this resolution.