Officer and Portfolio Holder Decisions

To update Cabinet on the due diligence requested at its meeting on 5^th September 2022 and to seek a decision as to what if any further action should be taken in relation to a proposed acquisition in March.

Cabinet AGREED to note the contents of the confidential report and provided instructions to officers in relation to the following:

A)   Taking into consideration the legal and financial implications described, members agree that without prejudice negotiations in relation to the proposed acquisition of the Site should continue, subject to the availability of DLUHC funding; 

B)   that officers are instructed to submit without prejudice offers up to the revised limit agreed and agreed the level at which that limit should be set;

C)   That in making the decision to proceed with the negotiations and that in setting a revised limit for that purpose, that Members have considered the Principles set out in the Subsidy Control Act 2022 (the “Act”) and are of the view that any subsidy to be granted to the vendors of the Site is consistent with those Principles.

D)   That the Section 151 officer in consultation with the Leader of the Council and Portfolio holder be authorised to complete the purchase of the property for a sum not to exceed the limit agreed by members in accordance with these recommendations and only following receipt of DLUHC grant funding and satisfactory due diligence returns.

E)   To delegate to the Leader of the Council and Section 151 Officer to determine how any shortfall in funding should be managed which may arise from the difference between the DLUC funding and Members agreed offer price including via the Council’s Capital programme.

To consider and recommend acceptance of Shared Prosperity Funding from the Cambridgeshire & Peterborough Combined Authority for a three-year period commencing in 2022-23 and ending in 2024-25. 

Cabinet considered and AGREED to:

·         Recommend acceptance of Shared Prosperity Funding from the Cambridgeshire & Peterborough Combined Authority for a three-year period commencing in 2022-23 and ending in 2024-25. 

·         Delegate to Officers responsibility for approving and finalising entry into the CPCA’s SPF Grant Funding Agreement; and

·         Note that a further report will be presented to Cabinet for approval of the detailed proposals in relation to the procedures and documentation associated with the onward administration of the funding.

The purpose of this report is to update Cabinet on the March Future High Street Fund (FHSF) Market place, Riverside and Broad Street workstreams and also seek Cabinet approval to enter into a Grant Funding Agreement with Cambridgeshire County Council allowing the project to proceed with the next step within the delivery phase - construction of the riverside and Broad Street elements of the project.

Cabinet AGREED to note the progress of the project as detailed in the Report and to authorise the S151 officer to enter into a Grant Funding Agreement (GFA) with Cambridgeshire County Council (CCC) to allow the Broad Street construction contract to be let. The construction contract will be between CCC and the Contractor, with the GFA allowing FDC to pay CCC from the FHSF fund grant for the contractors works.

To provide Cabinet with a monthly update regarding ongoing work related to 11 – 12 and 24 High Street, Wisbech.

Cabinet AGREED to note the current position in relation to these two significant projects in Wisbech High Street.

To provide an update to Cabinet of the work of the Investment Board from April 2022 to December 2022.

Cabinet AGREED to note this report from the Investment Board.

To receive the recommendations of the Overview and Scrutiny Panel’s consideration of the Fees and Charges for 2023/24.

Members considered the recommendations of the Overview and Scrutiny Panel and AGREED to approve the Fees and Charges for 2023/24.