Decision details

This report seeks approval to utilise the remainder of the third tranche of Additional Restrictions Grant (ARG) funding to fund business support activities for Westminster businesses and to administer a grant scheme to businesses who have received little or no grant support to date since the start of the pandemic.

2.         Recommendation

2.1           The Cabinet Members approved the proposals as outlined in Section 5 of the report.

2.2           The Cabinet Members delegated authority be granted to the Executive Director for Finance and Resources and the Executive Director for Growth, Planning and Housing in the event of underspend to:

·       re-allocate funding from any particular scheme or project as set out under section 5, to the most suitable proposal(s) as outlined under section 5 of this report, and;

·       amend the eligibility criteria of the open grant scheme outlined in within section 5.1 of the report.

3.        Reasons for Decision 

3.1       The proposals outlined in section 5 of this report seek to provide the most appropriate methods of administration of the ARG funding and will ensure that the right types of support are provided to the most impacted business groups, whilst meeting the deadline date set by BEIS of 31 March 2022, for the full funding allocation to be defrayed.

3.2       The delegated authority decision will negate the need for a subsequent Cabinet Member Report to be produced should the funding allocations attributed to the various proposals have to be revised and will mitigate risk of funds not being fully spent and defrayed by 31^st March 2022.