Issue - meetings

To receive a report from the Head of Development on the Alconbury Enterprise Zone National Non-Domestic Rate Receipts.

Executive Councillor: R Fuller.

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.

Consideration was given to a report prepared by the Head of Development (a copy of which is appended in the Minute Book) seeking agreement to the proposed split of National Non-Domestic Rates receipts above the set baseline value from the Alconbury Weald Enterprise Zone.

In introducing the item, the Executive Councillor for Housing, Planning and Economic Development drew Members’ attention to the agreement which had been reached in relation to the split of business rate growth funding. It was encouraging to note that 60% would be invested within Huntingdonshire with 40% of funding falling within the direct control of the District Council.  

In noting the comments of the Overview and Scrutiny Panel (Performance and Growth), it was

RESOLVED

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

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