Purpose

We seek approval for a variation to the grant
agreement between Newcastle City Council and the North East
Combined Authority in relation to a project called 'Newcastle
Inclusive, Healthy, Vibrant High Streets. The project is funded
through the UK Shared Prosperity Fund and the North East Combined
Authority's funding.
 
We are expecting the variation to include: a
6-month extension of the project duration (till 30/09/2025), a
continuation and extension of previously approved project activity
(revenue and capital) focussed on the transformation of 5 high
streets in the east of the city, new revenue and capital activity on the 5 high streets
and in other areas of the city.

Content

 
i. 
Accept UKSPF allocation of
£1,226,424 (this is in addition to the original grant funding
agreement amount of £1,899,945) and agree to a 6 month
extension of the project until 30 September 2025. Approve entry in
to a Deed of Variation of Funding Agreement with the North East
Combined Authority (NECA), formerly the North of Tyne Combined
Authority.
 
ii. 
Accept an Investment Fund
allocation of £100,000 revenue and approve entry in to a
Grant Funding Agreement with NECA.