Issue - meetings

** Please note this report will follow as it is currently being reviewed and finalised **

Report of Director of Finance

Resolved

(1)           That the contents of the report and the financial implications for the Council be noted.

(2)           That, having given due consideration, the recommended option (option 3, to introduce 4 categories of businesses to assist and to allocate funding envelope to each category to be allocated at officer discretion) for a scheme be agreed and the adoption of a Discretionary Business Grant Policy be approved.

(3)           That delegated authority be granted to the Section 151 Officer in conjunction with the Lead Member for Finance to make amendments to the draft policy as required.

The Executive Director Finance submitted a report to update Members on the recently announced Discretionary Business Grant fund, the work that had been undertaken so far and the options for a scheme for Cherwell District Council. The report also sought consideration of the options for a scheme and approval for the draft Discretionary Business Grant policy.

Resolved

(1)           That the contents of the report and the financial implications for the Council be noted.

(2)           That, having given due consideration, the recommended option (option 3, to introduce 4 categories of businesses to assist and to allocate funding envelope to each category to be allocated at officer discretion) for a scheme be agreed and the adoption of a Discretionary Business Grant Policy (annex to the Minutes as set out in the Minute Book) be approved.

(3)           That delegated authority be granted to the Section 151 Officer in conjunction with the Lead Member for Finance to make amendments to the draft policy as required.

Reasons

In response to the Coronavirus, the Government has announced a Discretionary Business Grant Fund to support small businesses who were not eligible for the original Small Business Grant Fund or the Retail, Leisure and Hospitality Fund

Alternative options

Option 1: Members could choose not to approve the proposed scheme, but this would mean the Council is not complying with Central Government guidance and this would be to the detriment of local businesses and economy