Issue - meetings

Report of the Executive Director (Place).

The Cabinet considered the report of the Executive Director (Place) in relation to the Southport Town Deal, and the Town Investment Plan which was submitted to Government at the end of October 2020.

The Cabinet Member for Regeneration and Skills, Councillor Atkinson welcomed the report and referred to the hard work undertaken by the Town Deal Board and Officers in being offered a Town Deal of up to the value of 37.5m and stated that the higher funding offer was in recognition of the case that Southport had made for the regional and national significance of its proposals.  Councillor Atkinson thanked the Town Deal Board, Officers and Members for all their hard work.

Decisions Made:    That:

(1)          the finalisation of the non-binding Heads of Terms, as accountable body for the Town Deal, be approved;

(2)          delegated authority be granted to the Chief Executive, in consultation with the Cabinet Member for Regeneration and Skills to agree the Heads of Terms once finalised by the Town Deal Board;

(3)          the time scales and next steps for project confirmation and business case development, be noted;

(4)          the business case development for the projects be delegated to the Executive Director (Place), in consultation with the Cabinet Member for Regeneration and Skills; and

(5)           it be noted that business case approval for each of the projects taken forward will be brought for Cabinet and Council approval on a project-by-project basis, in accordance with the Councils Financial Procedure Rules.

Reasons for the Decisions:

Southport was one of 101 towns identified as potential recipients of Town Deal funding, for which a bid submission and Town Investment Plan (TIP) was required. The process requires leadership of a Town Deal Board, with a private sector Chair, but the Council is required to undertake the role of Accountable Body for the bid, and for the subsequent negotiation of Heads of Terms, agreement of the Town Deal, and to be the organisation through which funding will flow.

These recommendations enable finalisation of those Heads of Terms with government, in advance of the detailed project development process.

Alternative Options Considered and Rejected:

The alternative of not agreeing to the Heads of Terms, and not undertaking the role of Accountable Body for the Town Deal is rejected given the significance of the funding, the quality and quantity of projects identified and the importance of such funding to economic recovery in Southport given the impact of the COVID-19 pandemic on the town and its economy.