URL: https://democracy.cornwall.gov.uk/ieDecisionDetails.aspx?ID=7702

Decision Maker: Cornwall Growth Board

Outcome:

Is Key Decision?: No

Is Callable In?: Yes

Purpose:

Content: DECISION:   RESOLVED   That the Cornwall Growth Board (Growth Board) approves the modified Investment Policy for the Enterprise Zone Growth Fund (EZGF) as described in the report and included as Appendix 4. That the Growth Board approves the Terms of Reference for the Enterprise Zone Landowners Group as described in the report and included as Appendix 5.  That applications for remaining EZGF funding be determined: for Expressions of Interest (EOIs) and full applications for grant up to a value of £0.100m, by the Service Director for Economy and Skills; for EOIs and full applications for grant above £0.100m and less than £0.500m, by the Service Director for Economy and Skills in consultation with the Portfolio Holder for the Economy; for EOIs for grant above £0.500m, by the Growth Board; and for full applications for grant above £0.500m, by the Service Director for Economy and Skills in consultation with the Portfolio Holder for Economy and the Portfolio Holder for Resources. That authority is delegated to the Service Director for Economy and Skills in consultation with the Portfolio Holder for Economy to enter into EZGF grant funding agreements and negotiate any funding conditions as necessary, in accordance with the decision making process set out in recommendation 3 and existing governance controls. That for the three financial years 2025/26 to 2027/28, a total of up to £0.250m is allocated from the funding to provide programme management, administration of the fund and Enterprise Zone development. From the 2028/29 financial year onward, the annual sum for those purposes to be agreed with the Section 151 Officer as part of the annual budget setting process.       Reason for the Decision:    As contained within the Report.   Alternative options considered:   None other than contained within the report.   Conflicts of interest declared:   None.   Dispensations granted in respect of a conflict of interest:   N/A  

Date of Decision: December 12, 2024