Agenda item

To receive a report and verbal update to the Future High Street Fund bid from InvestSK

The Deputy Leader and Cabinet Member for Growth and Leisure introduced the update on the Future High Street Fund Bid. He reminded Members that Grantham’s Further Clarification Stage funding request was £8.01m and had been submitted to MHCLGin October 2020.  On 26 December 2020, Grantham was offered an in-principle funding envelope of up to £5.55m. Thiswas 69% of the original funding request. 

The Consultants had been asked to look at what could be done to maximise the benefits to cost ratio (BCR) and had come up with four proposals that were outlined on pages 79 and 80 of the report.  The benefits to cost ratio (BCR) that would be accepted by the MHCLG was Option 1.  To make the necessary final savings, this would mean the removal of the St Peters Hill Gardens Public Realm and highway improvements and a reduction in the number of conversions of vacant upper floor units to residential from 25 to 22.  The updated scheme would need to be submitted by 26 February 2021. The Committee was being asked support the preferred option (identified as ‘option 1’) as the final proposed scheme for the Future High Street Fund in principle offer of £5,558,818.

Members were in support of the proposal and raised the following comments and observations:

·       It made sense to concentrate on the station approach as it was the initial view of Grantham for visitors leaving the railway station.

·       Whether the schemes not now covered in this bid would be financed from other sources – it was noted that the aim was for them to picked up in due course.

·       Whether volunteers could be asked to support the St Peter’s Hill Garden Project – It was noted this was a possibility.

·       What consultation had been undertaken with Grantham residents – It was noted that a survey had been undertaken and consultation with Grantham Councillors had also taken place.

·       What strategy would be in place around the detail of development and would it include the inclusion of the history of Grantham.

• What would happen with the listed buildings in this area – it was noted that the four listed cottages would remain.

ACTION POINT 12

That the Consultation in respect of the Future High Street Fund Bid be brought back to Committee for further consideration.

In response to a Member’s query about consultation with Grantham

Councillors following the MHCLG response, the Cabinet Member for Growth and Leisure confirmed that consultation had taken place with Grantham Councillors at the beginning of the year and  there had been meetings with the consultants to go through the proposed projects.  The MHCLG  had given the Council £5000 to amend the previously submitted scheme, so it met the benefits to cost ratio (BCR).  This now had to be submitted by 26 February 2021 to ensure the Council received the £5.55m.

The Chairman thanked Members for their input and noted that the Committee would like to see more detail when it was available.  The Cabinet Member for Growth and Leisure assured Members that as soon as the funding was in place, Members would be asked for further input.

ACTION POINT 13

That the Committee receives the details of the proposals for development when this is available.

The Chairman confirmed that the update was noted and reiterated that the Committee would welcome sight of further details once these were available.