Decision details

This decision is related to the work of KMEP and SELEP

This decision is required so that Kent County Council can draw down Growing Places Fund in order that this can be made available to support development at Discovery Park Enterprises Zone.  A key decision is required as the County Council will incur expenditure of over £1 million.

As Cabinet Member for Economic Development I have agreed that Kent County Council:

a)    Draw down capital funds of up to £4.6 million from the Growing Places Fund;

b)    Make available loan finance of up to £4.6 million to one or more third party organisations to support the development of Discovery Park Enterprise Zone.

This shall be subject to:

a)    The conclusion of a satisfactory loan agreement from Essex County Council, as the Accountable Body for Growing Places Fund; and

b)    The receipt of a satisfactory application for loan finance from one or more third party organisations.