To ensure timely and appropriate use of available Additional Restrictions Grant Funding in-line with the guidance and local economic need.

The decision has been made to:

a)    Increase the budget to the full £5,394,374 allocation of ARG, subject to the Council receiving additional funding of £991,374 (current budget £4,403,000).

b)    Authorise spending over the £2.8m already committed up to a maximum of £5,394,374, subject to additional funding of £991,374 being received, or if not up to a maximum spend of £4,403,000.

c)    Note the projected allocation for schemes (below).

d)    Delegate decisions to increase and decrease specific scheme budgets, within the total ARG allocation, to the Director of Development, in consultation with the Leader and Cabinet Member for Economic Development and Partnerships.

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The grant scheme must be delivered to serve the interests of local business severely affected by COVID restrictions in line with Government guidance. A full range of proposals were considered, and implementation of the recommended proposals was decided upon, based on the scheme guidance and local economic needs.

Recent announcements have altered the picture in terms of timing of spend. On March 3^rd, an additional £991,374 of ARG funding (on top of the £4,403,000) was announced with a significant shift in guidance (published 22nd March). This is aimed at ensuring ARG will be used to mirror the new ‘Restart Grants’ announced for eligible rate paying businesses in the budget.

The additional funding will only be awarded to Local Authorities that have spent their existing funding (£4,403,000) by 30 June 2021 (as opposed to the 31^st March 2022 as previously indicated).

Therefore, in order to obtain the additional funds to support local businesses further, the grant and support schemes below will be delivered and funded flexibly according to business demand and the assessed impact on individual business applicants;

Approved Scheme 1:  ARG Short-term Fund - £2,810,000

Approved Scheme 2: City Centre Restart Fund – £250,000

Approved Scheme 3: Home-based / Mobile Businesses support - £300,000

Approved Scheme 4: Restart ARG Grant (now mirroring national rate payer scheme) - £1,043,000

Approved Scheme 5: Business Pivot Fund - £841,374

Approved Scheme 6: Business support (where eligible) - £150,000.

Caroline Green, Chief Executive

Decision taken in consultation with Cllr Susan Brown, Leader and Cabinet Member for Economic Development and Partnerships, Nigel Kennedy, Head of Financial Services and Susan Sale, Head of Law and Governance.

The Chair of Scrutiny agreed to the taking of an urgent key decision which had not been notified on the Council’s Forward Plan.