Decision details

The Director - Planning & Growth presented a report which set out the proposed Assurance Framework for the Newark Towns Fund to assist the delivery of supported projects in the Newark Town Investment Plan (TIP) and associated Heads of Terms. As was detailed in an earlier update, the Council needed to perform an accountable body and assurance role for the Towns Fund and Newark Towns Fund Board. This included the requirement to adopt a Newark Towns Fund Assurance Framework to confirm the process for the release of funds for agreed projects, including various decision points and submission requirements from project sponsors. A proposed version of this Assurance Framework was set out at Appendix A to the report. This Assurance Framework had been drafted in consultation with internal legal and finance colleagues, in addition to the S151 officer. Externally, colleagues at the D2N2 LEP, MCHLG, and independent consultants Hatch and Quod had all contributed.

The report and Director – Planning & Growth also updated the Committee on various projects under the Towns Fund umbrella, including progression of the full business case for the YMCA Community and Activity Village, the Newark Gateway site, replacement of the livestock market and the International Air & Space Training Institute (IASTI) Newark.

AGREED (unanimously) that the Committee:

(a)                adopt the Newark Towns Fund Assurance Framework (June 2021) as provided at Appendix A to the report;

(b)                approve, subject to the recommendations of the Council’s S151 Officer and Quod Consulting, the Full Business Case for the YMCA Community & Activity Village which seeks £2m of Towns Fund grant;

(c)                 subject to (b) above, to give delegated authority to the Director – Resources to appraise and then confirm to the Newark Towns Fund Board that the Full Business Case for the YMCA Community and Activity Village (Newark) meets the requirements of the Newark Towns Fund Assurance Framework (June 2021);

(d)                subject to (b) above, a budget of £2m be added to the Council’s Capital Programme in order for the payment to be made, financed by Towns Fund Grant; and

(e)                subject to (b) and (c) above, give delegated authority to the Director – Planning & Growth, in consultation with the Business Manager – Law & Information Governance, to enter into a Grant Funding Contract with the YMCA to deliver the Community and Activity Village (Newark), including its associated outputs, outcomes, and monitoring and evaluation as detailed in the Full Business Plan.

Reason for Decision

To secure progress in respect of the various projects within the Newark Towns Fund.