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V26-1242 : OBJECTIVE 5B FUNDING - DEALING WITH THE TRANSITION

The report of the Chief Executive set out the implications of the cessation of European Objective 5b funding at the end of 1999 on the Council's business support schemes, and suggested that a contingency plan be put in place to deal with the uncertainty of the Agenda 2000 review.

The Chief Executive expressed his concern at the hiatus which the review would inevitably cause. He confirmed that the transition was likely to be at least 18 months whilst a workable document was formulated. The Director of Planning and Building Control felt that with the addition of further eastern European countries to the Community there must be an assumption of less local funding, therefore any contingency plan should reflect a worst case scenario.

In relation to the cut off point for 5b funding being the end of 1999, the Chief Executive reminded members that there could be a need to fast track some of the schemes in the pipeline, as all eligible schemes had to be approved and contracts let by that date.

RECOMMENDED

1. That the implications of the cessation of Objective 5b funding on the Council's business support schemes be noted.

2. That a contingency plan to cope with the delivery of the schemes in 1999/2000 and beyond be drawn up and presented to the next meeting of the Sub-Committee.

Volume 26 Minute 1242

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