Issue - meetings

To consider a report by the Head of Law, Property and Governance regarding the development of new industrial and commercial premises at the former depot at Caxton Road, St Ives.

Approved the release of funding from the Medium Term Plan for the development of the former depot at Caxton Road, St Ives with new industrial and commercial premises and authorised the Director of Central Services to accept a contribution of £150k from Cambridgeshire County Council subject to the agreement of the partnership terms.

By way of a report by the Head of Law, Property and Governance (a copy of which is appended in the Minute Book) the Cabinet considered a request for the release of funding from the Medium Term Plan for the development of the former depot at Caxton Road, St Ives with new industrial and commercial premises.

In considering the contents of the report, Executive Councillors acknowledged the contribution the scheme would make in achieving the targets in the Council's Corporate Plan, the Local Economy Strategy and the Environmental Strategy.  The scheme would provide a flexible, mixed development of workspaces and small offices for new and small businesses. In discussing the financial costs associated with the scheme Members’ attention was drawn to an offer of capital funding from Cambridgeshire County Council, amounting to £150k, for a partnership scheme supporting employment generation, to help in the recovery from the current recession. Having noted that this funding would only be available during the current financial year, the Cabinet

RESOLVED

  (a)  that the relevant funding be released for the scheme to provide new starter units in St. Ives; and

  (b)  that the Director of Central Services be authorised to accept a contribution of £150k from Cambridgeshire County Council subject to the agreement of the partnership terms.