Issue - meetings

In July 2015 the Leader of the Council 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) and the Local Centre Improvement Fund

This report seeks approval from the Deputy Leader and Cabinet Member for Economic Prosperity for two bids to the Town Centre Revitalisation Fund. These bids, detailed below, have been considered by and received support from the Investment Panel:

a)    Elmbridge Borough Council: Extension to Elmbridge Civic Improvement Fund (ECIF)

b)    Spelthorne Borough Council: Supporting Spelthorne Secondary Shopping Areas

The Deputy Leader and Cabinet Member for Economic Prosperity approved the proposed grant funding of £50,000 to Elmbridge Borough Council from the Town Centre Revitalisation Fund for 2016/17 as set out in Annex 1 of the submitted report and approved the proposed grant funding of £101,102 to Spelthorne Borough Council from the Town Centre Revitalisation Fund for 2016/17 as set out in Annex 1 of the submitted report.