Issue - meetings

That Cabinet:

a)         note the updates associated with the Towns Deal projects, including the revised scheme name of the ‘Local Regeneration Fund’, as detailed in 1.3 of this report;

b)         approve an additional revenue budget of £40,000 funded by the Change Management Reserve, towards the design phase of the Newark Market Place improvement scheme (Newark Cultural Heart), as detailed in paragraph 2.10 of this report; and

c)          approves delegated authority for the Deputy Chief Executive / Director – Resources in consultation with Council’s Director - Planning & Growth, for the Council to enter into a varied or new lease agreement via a surrender and regrant with Newark Town Council, as detailed in paragraph 2.14 of the report.

The Business Manager - Economic Growth & Visitor Economy presented a report which provided an update on the local delivery of Towns Deal programme and the progress made in relation to the remaining and completed scheme projects. It was reported that the government had announced the shift from Towns Deal as known to date, to become part of the new ‘Local Regeneration Fund’ and updates were provided on three projects that were underway, Castle Gatehouse, 32 Stodman Street and Newark Cultural Heart.

In respect of Newark Cultural Heart, there was an additional £40,000 revenue budget requirement to facilitate and conclude the final stage of designs. In evolving the design recommendations, the Town Council had agreed to a revised market layout accommodating 45 semi-permanent market stalls with flexibility to increase this number with pop-up stalls. In addition the Town Council were to seek to relocate the market for 12 months to allow the Market Place scheme to be implemented.

AGREED      (with 6 votes for and 1 abstention) that Cabinet:

a)            note the updates associated with the Towns Deal projects, including the revised scheme name of the ‘Local Regeneration Fund’, as detailed in 1.3 of this report;

b)            approve an additional revenue budget of £40,000 funded by the Change Management Reserve, towards the design phase of the Newark Market Place improvement scheme (Newark Cultural Heart), as detailed in paragraph 2.10 of this report; and

c)             approves delegated authority for the Deputy Chief Executive / Director – Resources in consultation with Council’s Director - Planning & Growth, for the Council to enter into a varied or new lease agreement via a surrender and regrant with Newark Town Council, as detailed in paragraph 2.14 of the report.

Reasons for Decision:

To ensure Members are aware of the recent updates and developments associated with the Towns Deal programme, and to support the progression of remaining and live schemes.

Options Considered:

It remains an option for the Council to decline to participate within the remaining activity associated with the Towns Deal scheme (or newly re-named Local Regeneration Fund), refusing to accept grant funding and deliver final projects. This approach is not recommended as it would represent a missed opportunity to deliver transformative change within Newark.