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Issue - meetings

London Business Rates Strategic Investment Pot (LBRSIP) - Inclusive Knowledge Economy

Meeting: 30/04/2020 - Executive (Item 718)

718 London Business Rates Strategic Investment Pot (LBRSIP) - Inclusive Knowledge Economy pdf icon PDF 195 KB

Additional documents:

Decision:

AGREED RECOMMENDATIONS

Reason for decision – as specified in the report.

Other options considered - none.

Conflicts of interest/dispensations granted – none.

Link to the report

 

Minutes:

RESOLVED:

 

2.1     That the council will act as the lead authority in delivering the four-borough Inclusive Knowledge Economy (IKE) project be agreed.

2.2     That the sum of £7.4024M will be available for delivery of the IKE project comprising £3.500M grant from the LBRSIP, £3.538M private sector match funding and £0.3644M in total from the four participating authorities be noted.

2.3     That Islington’s contribution is £26,100 from CIL/section 106
          contributions and £30,000 from its Apprenticeship Levy Fund be noted.

2.4     That authority be delegated to the Corporate Director of Environment
          and Regeneration, in consultation with the Executive Member for            Inclusive Economy and Jobs and following advice from Director of Law
          and Governance and Chief Finance Officer to agree:
          1. The final implementation programme for submission to the funders,
          2. The terms of the grant agreement with the City of London
          Corporation;
          and
          3. The terms of the partnership agreement with the other participating
          local authorities and delivery partner, be agreed.

 

Reason for decision – to provide affordable workspace and facilitate skills, employment and business startup opportunities for local residents in the Knowledge and Tech industries.

Other options considered – none other than as specified in the report.

Conflicts of interest/dispensations granted – none.