| State the Delegated Authority that you are relying on in order to make the decision | |
| Subject of decision | Seek approval for a business development grant of £94,500 to Cool Runnings (NE) ltd (CR) to support development proposals. |
| Text of decision | Proposal To provide CR with a business development grant to assist in the development and delivery of the snow centre. Benefits to the Council and wider Middlesbrough: • c£30m private sector capital build investment • c350 jobs within the facility, with an additional significant number of temporary jobs and training opportunities within the construction period • Only six other facilities of this type exist in the UK, this therefore would be the most advanced in terms of the snow box • c£500,000 of business rates, projected, per annum • Proposed footfall to the facility of up to 2.25m per annum • Additional development opportunities unlocked and private sector interest and investment attracted, on the back of the snow centre, to Middlehaven and the wider town Usage Grant aid can only be utilised on any aspect which assists or accelerates the development of the snow centre (see detailed terms) Terms and Conditions (see detailed grant terms and conditions attached) Funding £94,500 to be funded from the Town Centre Investment Programme, anticipated from the 2018/19 allocation. |
| Reason for decision | CR will have a number of design, detailed planning, site related, and/or associated fees to cover during the development period. Consequently, CR will invest significant funds (c£30m) to develop the scheme. In order to support the proposal, the Council seek to approve a grant, to assist towards delivery. The grant is proposed to aid the developer accelerate, enable and support the proposal to ensure delivery in a timely manner, the grant is to be capped at £94,500. This was approved in principle at a meeting led by the Chief Executive, with the proposal that this decision route was taken, given associated delegated powers. |
| Other options considered (if any) | N/A |
| Declarations of Interest by any member or relevant local government body | None |
| Who have you consulted as part of the decision making process | |
| Date of decision | 10 January 2018 |
| Service area | Economic Development & Infrastructure |
| Name of Delegated Officer making the decision - i | N Younis / K Parkes |
| Name of the Officer making the decision - If power has been sub-delegated to another officer | |
| Issue date:- | 26 January 2018 |
| Creation date:- | 25 January 2018 by |
| Background paper/Impact Assessment | Delegated Decision (33K/bytes) |