RESOLVED

That Cabinet:

1.    APPROVED the submission of a joint application by Rutland County Council and Melton Borough Council for Round 2 of Levelling Up Funding, in line with the Councils Constitution Financial Procedure Rules. 

2.    Authority be DELEGATED to the Strategic Director – Places in consultation with the Leader and Portfolio Holder for Economic Development toagree with Melton Borough Council which organisation acts as nominated Lead Local Authority for the Levelling Up Funding bid.  The Lead Local Authority function should be undertaken on a full cost recovery basis and a formal agreement between the two local authorities governing the working arrangements including a partnership governance structure.

3.    Authority be DELEGATED to the Section 151 Officer and Strategic Director – Places in consultation with the Leader and Portfolio Holder for Economic Development and Portfolio Holder for Resources to include indicative match funding in the bid so long as it has no direct impact on the Council’s Medium Term Financial Plan and subject to formal Council approval should the LUF bid prove successful.

4.    NOTED that the joint application was submitted on the basis that a detailed discussion regarding funding included any ongoing financial implications would be required should the Council be successful in securing the bid.  Any discussions would result in a Full Council decision to accept or reject funding offered.