Issue - meetings

To consider and endorse, or make recommendations to the Cabinet Member for Economic Development on the proposed decision for Kent County Council to note the Growing Places Fund (GPF) bid submissions to the South East Local Enterprise Partnership made by the Kent & Medway Economic Partnership.

Sarah Nurden (Kent & Medway Economic Partnership’s Strategic Programme Manager) was in attendance for this item.

1.    Sarah Nurden (Kent & Medway Economic Partnership’s Strategic Programme Manager) introduced the Reinvestment of Growing Places Fund (GPF) report and said that the South East Local Enterprise Partnership (SELEP) had £9.3m of recycled capital loan funding available for reinvestment. The Kent and Medway Economic Partnership (KMEP) had invited expressions of interest, of which Kent County Council submitted two, one being the Javelin Way Development Scheme and the other was the No-use Empty Scheme.

The No-use Empty Scheme had been running for the past ten years, returning long-term empty residential properties back into use, however the new project proposal aimed to expand the scheme to combine both the commercial and residential elements. The Javelin Way Development scheme would see the establishment of 29 light industrial units and the construction of a ‘Creative Laboratory’ production space, to be leased from Kent County Council by the Jasmin Vardimon Company. Mrs Nurden advised Members that SELEP had agreed to the recommendation that all 4 KMEP schemes would receive GPF funding. In order to draw down the capital loan funding from SELEP, Kent County Council would have to enter into a loan agreement with SELEP (via Essex County Council which is SELEP’s accountable body) for each of its scheme awarded GPF.

2.    In response to questions the officer provided further information.

3.    Mrs Nurden confirmed that the financial information shown in the report was the amount of capital loan required from SELEP rather than the total project cost. There was a match funding requirement of a minimum of 30% for all schemes.

4.    Mrs Nurden confirmed that the report displayed the number of permanent jobs created, rather than fixed-term jobs created during the construction period. These jobs were ‘on-going’. For example, in regards to the Javelin Way Development scheme, 151 jobs out of the 175 jobs were for the new employees that would work within the Light Industrial Commercial Units and the remainder of jobs would be within the Jasmin Vardimon Company.

5.    Mrs Nurden confirmed that a Government calculation was carried out using the Green Book and Employment Densities guidance. Each scheme had undergone technical assessments to ensure all job figures were achievable and sensible.

a)    A Member asked about the Fitted Rigging House and the expected 300 new jobs and whether this was a result of supporting jobs that already existed.

b)    The Chairman advised Members that it was an investment to enable the wider jobs, helping to build the growth and long term plans from there.

c)    Mrs Nurden clarified that the Fitted Rigging House was a Medway Scheme however there was a building within the Chatham Historic Dockyard that was being underutilised. The Reinvestment money would allow more floor space to be used, enabling the companies based at that site to expand their employee numbers; these employees would then be accommodated in the newly converted office space.

6.    RESOLVED that the decision proposed to be taken  ...  view the full minutes text for item 36