There is a requirement to reallocate funding within the Towns Fund monies of the Simplification Pathfinder Pilot. Two aborted projects from the approved Margate Town Deal programme mean that there is funding within the programme to reallocate to other projects.
As set out by Cabinet in September, 2023 the funding will remain in Margate and will be used to support the delivery of projects within the programme. £500,000 is available within the Coastal Wellbeing Intervention and will be used to help deal with challenges from inflation impacting the Walpole Bay Pavillion and the Skatepark. £4,000,000 from the aborted Destination Dreamland project will be reallocated within the Diversifying Heritage Assets intervention.
As the Accountable Body for the projects within the Simplification Pathfinder Pilot the council is the ultimate decision maker, however this is following engagement with the new Thanet Regeneration Partnership Board and the Department for Levelling Up, Communities and Housing.
Decision type: Key
Reason Key: Expenditure or Making one-off Savings anticipated to be £250,000 or more*;
Decision status: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 17/05/2023
Decision due: 14 Mar 2024 by Cabinet
Lead member: Councillor Rick Everitt, Leader of the Council and Cabinet Member for Strategy and Transformation Cllr-Rick.Everitt@thanet.gov.uk
Lead director: Bob Porter
Contact: Louise Askew, Head of Regeneration and Growth Email: Louise.askew@thanet.gov.uk.
What the decision will mean: Approval to appoint contractors for the delivery of contracts for the Ramsgate Levelling Up Fund/ Future High Street Fund/ and Margate Town Deal