home - committee - volume - faq's - help -search - meeting - previous - next

V26-683 : BUSINESS PROPERTY IMPROVEMENT GRANT SCHEME

The report of the Chief Executive reminded members that at minute V25-1163 a contribution of £15,000 per annum, for three years, to a new Business Property Improvement Grant Scheme for the Lowestoft area was approved. It was also agreed that this Council, together with Suffolk County Council, would jointly submit a bid for matching funding under the PESCA European funding programme.

A bid to run the scheme from June 1998 to June 2001 was successful and nearly £100,000 of European Funding had been secured, together with a contribution of £45,000 from the County Council.

The Scheme would be set up to primarily assist independent manufacturing small and medium sized companies who were considering expansion. The scheme would provide a maximum 20% grant for the improvement of accommodation that was currently wholly or partly unsuitable for the purposes of general business use.

The Chief Executive reported that a technical problem relating to revenue funding from Europe post December 1999 had recently arisen. It seemed that although the offer letter of funding ran up to June 2001, and claims were required by this date, awards to companies could only be made up to December 1999. Further clarification of this point was being sought and a report on the implications of this issue on this and the Council's other schemes would be presented at the next meeting.

RESOLVED

1. That the successful bid for European Funding and the launch of the Business Property Improvement Grant Scheme be noted.

2. That Suffolk County Council be thanked for their continuing support for the Scheme.

3. That a report on the issue of European Funding post December 1999 and the implications on the Council's grant schemes be presented to the next meeting of the Sub- Committee.


Volume 26 Minute 683

powered by Oultwood Web Technology

© Waveney District Council