Content

DECISION:
 
RESOLVED
 

That the
Cornwall Growth Board (Growth Board) approves the modified
Investment Policy for the Enterprise Zone Growth Fund (EZGF) as
described in the report and included as Appendix 4.
That the
Growth Board approves the Terms of Reference for the Enterprise
Zone Landowners Group as described in the report and included as
Appendix 5.
 That applications for remaining EZGF
funding be determined:

for
Expressions of Interest (EOIs) and full applications for grant up
to a value of £0.100m, by the Service Director for Economy
and Skills;
for EOIs
and full applications for grant above £0.100m and less than
£0.500m, by the Service Director for Economy and Skills in
consultation with the Portfolio Holder for the Economy;
for EOIs
for grant above £0.500m, by the Growth Board; and
for full
applications for grant above £0.500m, by the Service Director
for Economy and Skills in consultation with the Portfolio Holder
for Economy and the Portfolio Holder for Resources.

That
authority is delegated to the Service Director for Economy and
Skills in consultation with the Portfolio Holder for Economy to
enter into EZGF grant funding agreements and negotiate any funding
conditions as necessary, in accordance with the decision making
process set out in recommendation 3 and existing governance
controls.
That for
the three financial years 2025/26 to 2027/28, a total of up to
£0.250m is allocated from the funding to provide programme
management, administration of the fund and Enterprise Zone
development. From the 2028/29 financial year onward, the annual sum
for those purposes to be agreed with the Section 151 Officer as
part of the annual budget setting process.

 
 
Reason for the
Decision: 
 
As contained within the Report.
 
Alternative options
considered:
 
None other than contained within the
report.
 
Conflicts of
interest declared:
 
None.
 
Dispensations
granted in respect of a conflict of interest:
 
N/A