Decision details

Date of Decision:

14^th March 2023

Title:

Feasibility Fund Allocation: Phase 1

Decision Maker:

(Including Job Title)

Paul Woodcock, Strategic Director Regeneration and Environment

Specific Delegation:

(If any)

In June 2023 Cabinet delegated the decision to allocate and spend the £3m Feasibility Fund to the Strategic Director for Regeneration & Environment in consultation with the Leader of the Council and Assistant Director Financial Services.

Brief Description of Decision:

The South Yorkshire Mayoral Combined Authority (SYMCA) have allocated £3m revenue to Rotherham Metropolitan Borough Council as a ‘Feasibility Fund’. A grant agreement has been signed to accept the funding and the decision is to allocate £690,000 of this fund.

The allocation will be used to fund a range of costs in developing and delivering the Council’s programme of regeneration, including resourcing, communications, property holding costs, and project development funding.

In line with the approved delegation the following have been consulted.

Leader of the Council – 12^th March 2024

Assistant Director Financial Services – 11^th March 2024

Cabinet Member for Jobs & Local Economy – 6^th March 2024

Reasons for the Decision:

Allocation of £690,000 toward the development and delivery of the regeneration programme. Specifically:

·       Resourcing

·       Consultation, communication and marketing

·       Holding costs

·       Town centre development funding

Details of alternative options considered and rejected:

Funding could be sought from alternative sources through capitalisation or Council revenue. The fund is specifically designed for the purposes proposed here and has been approved by the MCA and is therefore considered the best source for this requirement.

Conflicts of interest declared by any Executive Member consulted by the decision maker which relates to the decision:

None

Dispensations Granted:

(If any)

None

Reports or parts of reports considered

Officer Decision – Feasibility Fund Allocation: Phase 1

June 2023 Finance Update