Issue - meetings

To comment and endorse, or make recommendations to, the Cabinet Member for Economic Development to agree;

(a)    that administration of and funding-decision authority for the monies previously recovered from companies based in Thurrock and handled via the Tiger Scheme, be transferred to Thurrock Council for management via their own new business loan scheme; and

(b)    that authority be delegated to the Director of Economic Development to take appropriate actions, including but not limited to, entering into legal agreements as necessary to implement this decision.

David Smith (Director for Economic Development) and Martyn Riley (Programme Manager (Business Investment)) was in attendance for this item

1.    Mr Smith introduced the report which set out the proposed decision to transfer to Thurrock Council, the authority to oversee the use of funds recovered from the Tiger loan repayments obtained from Thurrock companies, to support local small and medium sized enterprises in its local authority area.

2.    Members commended Jacqui Ward who had recently retired from her position as the lead officer.

3.    RESOLVED that the proposed decision (19/00041) to be taken by the Cabinet Member for Economic Development to agree:

(a)  that administration of and funding-decision authority for the monies previously recovered from companies based in Thurrock and handled via the Tiger Scheme, be transferred to Thurrock Council for management via their own new business loan scheme; and

(b)  that authority be delegated to the Director of Economic Development to take appropriate actions, including but not limited to, entering into legal agreements as necessary to implement this decision,

be endorsed.