Mr Mark
Green, the Director of Finance and Business Improvement, updated
the Committee on the 100% Business Rates Retention Pilot and the
associated projects that had been agreed as a result of the
additional funding.
The
Committee noted the following:
·
Spending had been lower than expected on the Members
Community Grant Scheme. Mr Green encouraged members to discuss any
ideas they had with officers even if it seemed initially that they
would be outside of the grant’s original remit.
·
If there was additional funding available as
Business Rates income was higher than the forecast or projects were
underspent then a decision was required by Policy and Resources on
what to use this funding for.
·
The Ministry of Housing, Communities and Local
Government had anounced that Kent and
Medway authorities would need to apply again to be part of the
2019/2020 pilots. If successful then the pilot was anticipated to
be 75% retention of Business Rate growth rather than
100%.
·
Maidstone had put forward feasibility studies for
improvements to the Bus Station as the Council’s application
to the North Kent Cluster Housing and Commercial Growth
Fund.
RESOLVED:
That
the progress with the Business Rates Retention pilot projects be
noted.