Decision details

To seek Cabinet’s agreement to the proposed split of National Non-Domestic Rates receipts above the set baseline value (also referred to as Business rate growth) from the Alconbury Weald Enterprise Zone.

The Cabinet:

§  Agreed the principles of the share of the National Non-Domestic Rates above the set baseline value from the Alconbury Weald Enterprise Zone (EZ) between HDC and the Cambridgeshire and Peterborough Combined Authority (Business Board) as set out in paragraph 3.2 of the report now submitted; and

§  Agreed that delegation to finalise the Memorandum of Understanding on the above basis be given to the Head of Development in consultation with the Executive Councillor for Housing, Planning and Economic Development.

Agreement of the share of the Business rate growth is required to enable receipts to be shared accordingly and enable the respective authorities to plan budgets and actions accordingly.

As outlined in report.

As outlined in report.