Issue - meetings

Business Rates Retention Pilot 2018/19

Meeting: 28/03/2018 - Policy and Resources Committee (Item 192)

192 Business Rates Retention Pilot 2018/19 pdf icon PDF 120 KB

Additional documents:

Minutes:

Mr Mark Green, the Director of Finance and Business Improvement, presented a report on the Business Rates Retention Pilot 2018/19 to the Committee.

 

It was highlighted to the Committee that:

 

·  The Committee agreed the parameters for allocation of the funding at its meeting on 24 January 2018 and this report described the individual projects that it was proposed to fund.

 

·  It was possible that the Business Rates Retention Pilot would be extended to 2019/20 but the Government had made no commitment to doing this. If it was proposed in 2019/20 then it was likely the Council would have to bid again to form a Pilot. By setting out the proposals in Appendix A and delivering those projects it put the Council in a good position to be selected to form a Pilot again in 2019/20.

 

·  The projects had been divided into three tranches. The projects in Tranche 1 could be implemented from the beginning of April 2018.

 

·  In order not to delay projects unnecessarily, funding would be released as soon as it was considered prudent to do so. Therefore it was recommended that delegated authority be given to the Director of Finance and Business Improvement, in consultation with the Chairman of Policy and Resources Committee, to release funding as appropriate during the course of the year.

 

In response to questions from the Committee, Mr Green replied that:

 

·  The Maidstone Business Capital of Kent marketing strategy was an ambitious project that would target businesses further afield and create inward investment for the Borough.

 

·  The Property Asset Review would look at all and individual sites, both for redevelopment or disposal.

 

·  There would be guidance produced for the Members’ Community Grant to ensure that money was spent in accordance with the rules.

 

·  It was proposed that update reports would be brought back to this Committee quarterly.

 

In response to a question from the Committee, Mr William Cornall, the Director of Regeneration and Place replied that the Regeneration Opportunity Areas had been presented to Strategic Planning, Sustainability and Transportation Committee in January 2018. The Council had since written to the site owners affected. The sites/areas were:

 

o  Mote Road island site;

o  Land around Gala Bingo Hall;

o  Len House;

o  Land around Maidstone West Station; and

o  Land around the west of the River Medway.

 

The Committee requested that review reports were brought back to this Committee on the projects as they progressed, to ensure that Members were kept up to date.

 

RESOLVED:

 

1.  That the projects to be funded from proceeds of the Business Rates Retention Pilot set out in Appendix A be agreed.

 

2.  That delegated authority be given to the Director of Finance and Business Improvement, in consultation with the Chairman of the Policy and Resources Committee, to release funds for the individual projects.

 

3.  That review reports are brought back to this Committee on the projects as they unfold.

 

Voting: For – 13  Against – 1 Abstentions – 0