Decision details

The Cabinet Member considered the joint report of the Planning and Economic Development Director and Neighbourhoods and Investment Programmes Director advising that the REECH (Renewable Energy Efficiency in Community Housing) Project had now been approved by the North West Development Agency (NWDA); and seeking, subject to the agreement of arrangements for the delivery of economic development activity, approval to accept the Offer Letter and to approve the revenue and capital financial implications of the Project.

The report indicated that the REECH Project was to be funded via the European Regional Development Fund (ERDF); that in line with the NWDA's request, the Council had worked with Registered Social Landlords (RSL) delivery partners to identify all those projects that would be eligible for ERDF grant, could be delivered within the bid timetable and initially would lead to robust outputs required as part of the funding condition; that the total revenue cost of managing the project over the three calendar years was estimated to be £1,227,724 and that ERDF grant amounting to £613,862 would be received based on a 50% intervention rate; whilst as regard to the capital element of the project, there were no financial implications to the Council as Sefton's role would be to release £7,170,624 ERDF grant on receipt of detailed evidence of spend by RSL delivery partners.

This was a Key Decision and was included on the Council's Forward Plan of Key Decisions.

RESOLVED:   That

(1)      it be noted that the REECH Project was approved by the North West Development Agency on 16 December 2010;

(2)      the report advising of progress on the REECH Project be noted and further progress reports be submitted as appropriate; and

(3)          Cabinet be requested, subject to the agreement of arrangements for the future delivery of Economic Development, to:

          (a)      accept the Offer Letter when received from the North West Development Agency in relation to the REECH Project, and approve a start date of 1 January 2011;

          (b)      request the Council to give approval to the inclusion of the REECH Project in the Capital Programme as set out in Annex A in the sum of £7,170,624 to be fully funded from ERDF grant; and

          (c)      agree the Revenue budget for the project as set out in Annex A which requires that the Council provides revenue match funding from existing resources amounting to £413,862 over three calendar years.