Issue - meetings

In July 2015 the Leader announced an annual £1m fund, allocated in the Medium Term Financial Plan (MTFP). This fund is to support investment in Surrey’s secondary shopping centres with the aim of promoting economic prosperity as well as improving the health and well being of our residents and communities by providing better facilities and an improved retail offer. This is split between two funds:

-       The Town Centre Revitalisation Fund (TCRF) which provides for individual proposals of up to £0.35m (dependent upon availability of funding) from district and boroughs to support local centre revitalisation and regeneration initiatives. This fund requires 50% match funding and attracts 75% of the annual £1m.

-       The Local Centre Improvement Fund for smaller shopping parades for bids between £5,000 and £30,000 which is being delivered as part of the Community Improvement Fund. This fund attracts 25% of the annual £1m.

The first bid presented has been considered by and received support from the Investment Panel:

Mole Valley Borough Council: Leatherhead Southern Gateway (Church Street)

The Deputy Leader agree to the recommendation that the proposed grant funding to Mole Valley District Council of £0.2m in 2016/17 from the Town Centre revitalisation Fund and as set out in Annex 1 is approved.