That the Cabinet Member for Economic Development, agrees for Kent County Council to delegate to the Director for Economic Development the authority to transfer to East Sussex County Council recovered loan repayments obtained from East Sussex companies who received funds via the former Regional Growth Funded (RGF) Escalate programme.
Decision type: Non-key
Decision status: Recommendations Approved
Division affected: (All Division);
Notice of proposed decision first published: 26/02/2019
Decision due: Not before 27th Mar 2019 by Cabinet Member for Economic Development
Reason: In order that the proposed decisions can be publsihed for a minimum of 28 days, in accordance with statutory requirements
Lead member: Cabinet Member for Economic Development
Lead director: David Smith
Department: Growth, Environment & Transport
Contact: Jacqui Ward, Regional Growth Fund Programme Manager 03000 417191 Email: Jacqui.Ward@kent.gov.uk.
This was considered at the Growth, Economic Development and Communities Cabinet Committee on 7 March 2019.
Financial implications: KCC does not currently have the legal authority or administrative procedures in place to spend the recovered loan repayments obtained from East Sussex companies who received loan funds via the former RGF Escalate programme. Without transferring these funds to East Sussex County Council, they will remain ring-fenced within KCC finances.
Legal implications: None
Equalities implications: None