Issue details

1.    To authorise the establishment of a Discretionary Business Grant Scheme at an initial sum of £924k or such larger sum as might be needed fully to satisfy eligible claims for grant within categories a/, b/ and c/ at Para 2 below but always within the overall funding envelope from government of £1.758m

2.    To approve the prioritisation of the following categories of businesses as more particularly described in the body of this report

a.    Businesses in managed workspace and incubators not separately rated

b.    Retailers in shared retail space not separately rated

c.     Market Traders

3.    To approve the level of grant to be paid at 2a and 2b –  £5,000 per business and to each eligible market trader at 2c a sum equivalent to six months’ rent

4.    To delegate to the Director of Regeneration in consultation with the Chief Operating Officer all matters related to the administration of the funds and to authorise the allocation of £20,000 to cover the provision of additional grant processing capacity through agency staff or contracted service provision.