To accept a government grant of £5.1m capital to deliver a programme of regeneration work at Folkestone Seafront and enter into a subordinate grant agreement with a private sector organisation for the delivery of the programme.
Decision type: Key
Reason Key: Expenditure or savings of more than £1m;
Decision status: Recommendations Approved
Division affected: Elham Valley; Folkestone North East; Folkestone South; Folkestone West; Hythe; Romney Marsh;
Notice of proposed decision first published: 25/09/2015
Department: Growth, Environment & Transport
Contact: 03000417077 Email: email@example.com Tel: 01622 221312.
There is no KCC contribution proposed to this project. However, KCC will be accountable for up to £5.1 million in Government funds to be delivered by a third party. There will be administration costs incurred in the management of the grant agreement; these will be recovered from the developer.
The proposed grant may constitute state aid. This will be assessed through the full business case. The developer is advised to seek independent state aid advice, and KCC will be satisfied with the state aid compliance of any grant before an agreement is entered into.
An Equalities Impact Assessment has not yet been carried out. This will be required as part of the full business case, and will be the responsibility of the developer.
Growth, Economic Development and Communities Cabinet Committee will consider this decision on 1 December 2015.
Financial implications: Ross Gill Economic Strategy and Policy Manager 03000 417077 firstname.lastname@example.org David Smith Director of Economic Development 03000 417176 email@example.com
Legal implications: 15/00085