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Issue - decisions

Stocksbridge Towns Fund

15/06/2021 - Stocksbridge Towns Fund

9.1

The purpose of the report was to update the Co-operative Executive on the Stocksbridge Town Deal following the announcement that Stocksbridge was successful in securing, in principle, £24.1m funding from the Ministry of Housing, Communities and Local Government (MHCLG); to provide further information around the projects; to seek approval around next steps including allocation of funding to develop projects to full business case and to progress negotiations regarding the acquisition of targeted properties.

 

 

9.2

RESOLVED: That Cooperative Executive:-

 

1.    Note that the Council has been successful in being awarded, in principle, £24.1m from MHCLG;

 

2.    Approve the allocation and commitment of £1.5m of Council funding for 2021/22, in anticipation of receipt of that funding, to undertake feasibility, site investigations and project development work up to full business case for the 10 projects identified in this Report and add the Stocksbridge Town Deal project to the capital programme;

 

3.    Note the intention to submit an application to the Sheffield City Region Mayoral Combined Authority for £1.8m funds for the Manchester Road Project and delegate authority to the Executive Director of Resources to accept the grant and commit the Council to act as Accountable Body should that bid be successful; and

 

4.    To the extent not covered by existing delegations, delegate authority to the Chief Property Officer in consultation with the Director of Legal and Governance and the Executive Director of Resources to enter negotiations and acquire property interests as required to fulfil the objectives in the Town Deal Plan.

 

 

9.3

Reasons for Decision

 

 

9.3.1

The Stocksbridge Town Deal provides a significant opportunity to fund significant interventions to address current and future issues and challenges within the Town. The requirement on the Council to cashflow the cost of the process of developing the Full Business cases which will the funding is essential to deliver the Stocksbridge Town Deal.

 

 

9.4

Alternatives Considered and Rejected

 

 

9.4.1

Do nothing – the Council could choose not to progress the work to secure the Towns Deal. This would be a missed opportunity to regenerate one of City’s neighbourhoods. Fundamentally this is a once in a generation opportunity to address some key infrastructure problems faced by Stocksbridge with its unique geography and challenges, compounded by the pandemic.

9.5

Any Interest Declared or Dispensation Granted

Councillor Julie Grocutt declared a personal interest as a member of the Stocksbridge Towns Board.

9.6

Reason for Exemption if Public/Press Excluded During Consideration

None

9.7

Respective Director Responsible for Implementation

 

Director of Legal and Governance

 

9.8

Relevant Scrutiny and Policy Development Committee If Decision Called In

                     Overview and Scrutiny Committee