Issue - meetings

Report of the Cabinet Member Finance

Resolved that

1. The High Street Innovation Fund Business Rate Relief Policy in Appendix 2 be approved

2. Authority be delegated to the Director of Resources to consider applications and award relief in line with the conditions detailed in Appendix 2

3. Authority be delegated to the Director of Resources in consultation with the Cabinet Member for Finance to apply the scheme in 2013/2014, subject to funds being available

The Cabinet Member Finance introduced the report and explained that the Council had been awarded a grant of £100 000 from the High Street Innovation Fund. He reported that £65 000 had been allocated to bringing empty shops back into use by providing business rate relief to businesses occupying an empty shop in designated areas of the town centre of up to 100 % depending on the rateable value of the property. The funds were targeted on the town centre but it was proposed to extend the scheme to include Montpellier Street, Coronation Square and Edinburgh Place. He thanked officers for working expeditiously in drawing up a policy for this purpose which had the potential to boost the local economy.

Members welcomed the scheme which would be assessed in due course.

Resolved that

1. The High Street Innovation Fund Business Rate Relief Policy in Appendix 2 be approved

2. Authority be delegated to the Director of Resources to consider applications and award relief in line with the conditions detailed in Appendix 2

3. Authority be delegated to the Director of Resources in consultation with the Cabinet Member for Finance to apply the scheme in 2013/2014, subject to funds being available