Issue - meetings
Enterprise Zone Memorandum of Understanding
Meeting: 28/09/2016 - Policy and Resources Committee (Item 92)
Additional documents:
- Enc. 1 for Enterprise Zone Memorandum of Understanding, item 92
PDF 458 KB
View as HTML (92/2) 186 KB
Decision:
RESOLVED:
1) That the draft Memorandum
of Understanding (MOU) as set out in Appendix 1 to the report of
the Head of Commercial and Economic Development be agreed and that
authorisation be given to the Chief Executive to sign it and submit
it to Government; and
2) That delegated authority be given to the Director of Regeneration and Place in consultation with the Chairman of Policy and Resources Committee to agree the content of the final MOU.
Minutes:
Members considered the report of the Head of Commercial and Economic Development which related to the Government requirement for all local authorities on which a new Enterprise Zone site is situated to sign a Memorandum of Understanding (MOU) with the Secretary of State for Communities and Local Government confirming their commitment to the Enterprise Zone and to set out the arrangements for its operation and development.
It was noted that the North Kent Enterprise Zone co-ordinator was notified of this requirement to submit an MOU by the 30th September only two weeks ago which is why the MOU was still in draft form.
The Regeneration and Economic Development Manager outlined the potential benefits to the Council which included up to 100% business rate discount, worth up to £275,000 per business over a 5 year period.
The business rates
income retained by Maidstone Borough Council would be used to
accelerate further development on Kent Medical Campus.
Members noted that an update on the North Kent Enterprise Zone
would come back to this Committee in the New Year.
RESOLVED:
1) That the draft Memorandum
of Understanding (MOU) as set out in Appendix 1 to the report of
the Head of Commercial and Economic Development be agreed and that
authorisation be given to the Chief Executive to sign it and submit
it to Government; and
Voting: For: 15
Against: 0 Abstentions:
0
2) That delegated authority be given to the Director of Regeneration and Place in consultation with the Chairman of Policy and Resources Committee to agree the content of the final MOU.
Voting: For: 15 Against: 0 Abstentions: 0