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Decision details

Future High Streets Fund - Acceptance of MHCLG Grant

Decision Maker: Executive Director, Place

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To provide the context for a recommendation to accept a government grant offer from the Ministry of Housing, Communities and Local Government (MHCLG) of £15.817m of capital funding from the Future High Streets Fund (FHSF).

 

Decision:

That the Executive Director of Place:

 

  1. Approves the Council accepting the Ministry of Housing, Communities and Local Government grant of up to £15.817m in accordance with the terms outlined in the grant offer letter and Memorandum of Understanding;

 

  1. Note that some of the funding has already been received by the Council; and

 

  1. Approves the Council entering into the Memorandum of Understanding with the Ministry of Housing, Communities and Local Government as further outlined in this report.

 

 

Reasons for the decision:

1.    This successful award is the culmination of two years of coordinated and comprehensive work to evidence the business case and associated benefits for the proposed improvements to Fargate and the High Street.

 

2.    Acceptance of this capital funding provides secures resources to address many of the issues Fargate/High Street faces now and in the future.

 

Alternative options considered:

1.    Do nothing

 

Not accepting MHCLG funding of £15.8m would mean foregoing the opportunity to deliver significant capital interventions along Fargate and the High Street and the associated economic, environmental and social benefits. Not acquiring property could mean viable opportunities to deliver key interventions with FHSF are lost or become more complex to deliver.

 

Publication date: 04/05/2021

Date of decision: 28/04/2021

Accompanying Documents: