Purpose

This Cabinet report seeks approval for the
acceptance of funds from the Dorset Local Enterprise Partnership to
deliver economic benefits in the BCP region in line with the aims
and objectives of the Dorset Local Enterprise
Partnership.

Content

RESOLVED that
Cabinet: -

(a) 
In its capacity as a Dorset Local Enterprise
Partnership (CIC) company member, to ratify the decision to
transfer and accept the following funds to BCP Council, subject to
approval of the 24-25 DLEP accounts by the DLEP board. (Please
note, that interest continues to be applied until the payment is
made to BCP upon agreement. The figures below include interest up
to 31st March 2025.)
£866,951.68 revenue
£2,498,208.50 capital
£1,275,000 capital loan repayments due

(b) 
Agrees to ringfence funds for the benefit of the
community and to delegate authority to the Chief Operating Officer,
the Chief Financial Officer in consultation with the Portfolio
Holder for Portfolio Holder for Destination, Leisure and Commercial
Operations to allocate funding in consultation with the BCP Growth
Board.

(c) 
Notes the resignation of the Leader of the Council
from the DLEP Board on successful transfer of the above
funds.

(d) 
Notes that Dorset Council will formally close the
DLEP following successful transfer of the above funds.

(e) 
Delegates authority to the Director of Law and
Governance to finalise any legal documentation required
Voting: Unanimous
Portfolio Holder: Destination, Leisure and
Commercial Operations
Reason
The acceptance of
the revenue and capital funding for community benefits in the BCP
Council area will help deliver the Council’s Corporate
Strategy and wider economic and social objectives:

Our inclusive,
vibrant and sustainable economy supports our communities to
thrive
Revitalised high
streets and regenerated key sites create new opportunities
Employment is available for everyone and helps create value in our
communities
Skills are continually
developed, and people can access lifelong learning