Andrew Cummings, Strategic Director of Resources, Stroud District Council, provided the Committee with an update on the Gloucestershire Business Rates Pool.
It was noted that the forecasted position for the pool for this year was a gain of £3.8 million. Additionally, S151 Officers had been considering the pool options for next year to see whether it would be viable. The group would take another look at the options in mid December when the settlement for the County comes in to see if the pool was worth continuing.
The Committee was asked to agree an allocation of £500k from the Strategic Economic Development Fund for Core Match Funding for GFirst LEP.
On being put to a vote, it was
Agree an allocation of £500k from the SEDF for core funding for the LEP for the period April 2021 to March 2023.