Resolved
(1) That the grant of £100,000 New Homes Bonus to The Apprenticeship & Training Company Ltd (the ‘Company’) and it be noted that this will be subject to the satisfactory completion of a funding agreement between the council and the Company to include a right for the council to nominate a representative to the Company’s Board.
(2) That authority be delegated to the Chief Finance Officer in consultation with the Lead Member for Financial Management, to agree future allocations of New Homes Bonus provided for in the budget in accordance with the principles previously set out by the Executive.
(3) That with regard to New Homes Bonus allocations, authority be delegated to the Chief Finance Officer, in consultation with the relevant member of the Joint Management Team and Executive Lead Members (within whose area the proposed scheme falls e.g. for economic development schemes, this will be the Head of Strategic Planning and the Economy and the Lead Member for Estates and the Economy) to determine the schemes in accordance with council policy on which these allocated funds should be spent.