Issue - decisions
Good Growth Fund - Rainham Innovation Hub and Public Realm improvements Contractual Agreements
Cabinet:
- Agreed to enter into
a Grant Agreement with the Greater London Authority (GLA) until
31st March 2022 to provide an Innovation Hub designed to
boost productivity and skills in Havering and across East London
and improve the physical environment of the area for workers,
students and visitors, focussing initially on the use of digital
technologies in logistics, construction and related sectors. The
Grant from the GLA is for £1,631,940.
- Approved match
funding from the Council be provided to help fund the overall
project derived from the value of staff time (£16,200),
£800,000 from the London Strategic Investment Pot funding for
connectivity in Rainham, £56,000 to be identified from
business sponsorship/social value contributions or S106 (and if
this is not identified by 2021/22 from the Council’s
allocated Regeneration and Economic Development revenue budget.
Match funding will also be provided by Havering College, Riverside
BID and SEGRO at a combined value of £1,049,565.
- Delegated authority
to the Director of Regeneration Delivery to enter into Delivery
Agreements with SEGRO, Havering College of Further and Higher
Education and the London Riverside Business Improvement District to
draw down delivery funding for the project of £309,400,
£562,800 and £250,000 respectively, to deliver elements
of the project and achieve agreed outcomes;
- Agreed to provide
forward funding to the Riverside BID of £50,000 (capital) in
2019/2020 and £200,000 (capital) in 2020/2021 to enable them
to fund the public realm improvements; and,
- Agreed a Statement
of Intent with Havering College and SEGRO to confirm the
partners’ intentions to develop and deliver the Innovation
Hub and work together to take it forward; and,
- Noted that the
process of appointing an operator for the Hub will be undertaken on
behalf of the partners through the Council’s procurement
processes.