Issue - meetings

Report of Head of Strategic Planning and the Economy

Summary

To consider the use of the Town Centre Innovation Fund.           

Recommendations

The Executive is recommended:

(1)               To receive the report and approve the proposed allocations set out in paragraph 1.4.

(2)               To approve funding for the Christmas Parking Initiative set out in paragraph 1.7.

(3)               To approve the process for developing projects and releasing resources to Town Centre projects set out in paragraphs 1.8, 1.9 & 1.10.

Resolved

(1)               That the report be received and the proposal to initially allocate the £100,000 awarded for ‘Town Centre Innovation’ by the DCLG in the following proportions be agreed:-

·        50% to Banbury - £50,000.

·        30% to Bicester - £30,000.

·        20% to Kidlington - £20,000.

(2)               That the proposal to commit £40,000  to the Christmas Parking Initiative that will operate in Banbury and Bicester be approved.

(3)               That the process for developing projects and releasing resources to Town Centre projects be approved.

The Head of Strategic Planning and the Economy submitted a report which sought consideration of the use of the Town Centre Innovation Fund.          

In introducing the report, the Lead Member for Estates and the Economy explained that like a number of other Districts, Cherwell District Council had been awarded £100,000 to promote ‘town centre innovation’. The Department for Communities and Local Government (DCLG) had not prescribed what the funding should be used for and had left this for local determination. Whilst there was no time limit on the use of the funding, there was a need to account for these of the monies.

In response to Members’ comments, the Lead Member for Estates and the Economy confirmed that the fund would be held by the Economic Development Team and allocated by the Head of Strategic Planning and the Economy to local projects in each town/village which were developed with the local retail/traders groups, subject to consultation with the Lead Member for Estates and the Economy who would consult local ward councillors.

Resolved

(1)               That the report be received and the proposal to initially allocate the £100,000 awarded for ‘Town Centre Innovation’ by the DCLG in the following proportions be agreed:-

·        50% to Banbury - £50,000.

·        30% to Bicester - £30,000.

·        20% to Kidlington - £20,000.

(2)               That the proposal to commit £40,000 to the Christmas Parking Initiative that will operate in Banbury and Bicester be approved.

(3)               That the process for developing projects and releasing resources to Town Centre projects be approved.

Reasons

Cherwell District Council has been awarded £100,000 to promote ‘town centre innovation’. The DCLG has not prescribed what the funding should be used for and has left this for local determination. There is no time limit on the use of the funding, but there is a need to account for these of the monies.

The proposed distribution of the funding will contribute to the strengthening of the economies of the town centres and to meet the objectives of the Cherwell Economic Strategy, Town Masterplans and Cherwell Local Plan.

Options

Option One: To take no action and retain the funding for other purposes.

Option Two: To be more prescriptive about what can be funded.

Option Three: To change the proposed allocation of funding.