Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
The successful Margate Town Deal Investment Plan includes a number of projects. Since the funding offer was made and the Heads of Terms were agreed, the Council has been working with stakeholders and project delivery partners to put together a series of Business Cases, which are compliant with HM Treasury guidance. Two of the projects being delivered by third parties include the Margate Creative Land Trust and the Oval Bandstand and Lawns project.
Thanet District Council is the accountable body for the Margate Town Deal and it will grant fund third parties to deliver the projects as identified in the Business Case. An executive decision is required because the expenditure exceeds £250,000.
The Council has a formal grant agreement which will be used when allocating funding to third parties, Cabinet is required to approve this allocation as a key decision.
Cabinet agreed the following:
1. To approve the payment of Grants to third parties to deliver the agreed Department of Levelling Up Housing and Communities funded projects. These grant payments are:
· £6,000,000 capital grant to the Margate Creative Land Trust to deliver the outcomes identified in the Margate Town Investment Plan;
· Up to £900,000 revenue funding for Participation and Engagement as part of the Scaling Margate's Creative and Production Intervention, and delivery of the Creative Land Trust;
· £500,000 capital grant to GRASS for the Oval Bandstand and Gardens project;
2. That each grant agreement is signed as a Deed, by the Director of Law and Democracy and Director of Finance and S151 Officer, and is witnessed by a Member of the Council.
To enable delivery of the already agreed Margate Town Deal projects.
The only alternative would be to give the funding back to central government or to reallocate the funding within projects identified in the Margate Town Investment Plan. This would require approval of the Margate Town Deal Board. Central Government has already approved the Creative Land Trust Business Case and the Margate Town Deal Board have approved the submission of the Coastal Wellbeing Business Case, which included the Oval Bandstand and Lawns project.
Publication date: 04/05/2022
Date of decision: 28/04/2022
Decided at meeting: 28/04/2022 - Cabinet
Effective from: 12/05/2022