Issue - decisions

RESOLVED:(i) That existing commitments be given priority in the allocation of LPSA2 grant funding (Venture Fund repayments, partner agreed grants and sustaining the initiatives which have produced the improved performance in key target areas);

(ii)               That the principle of prioritising the use of residual LPSA2 reward grant into key Local Area Agreement (LAA) target areas be approved;

(iii)             That Directors and partner organisations be invited to consider bid projects (requiring only one off public funding) which they would wish to implement and manage and which would have the greatest impact on achieving key LAA targets;

(iv)              That the Director of City Strategy and the Director of Resources be requested to develop a robust bid process and supporting documentation, with particular reference to methodology and target monitoring, to facilitate the allocation of any LPSA2 grant funding which may become available, as part of the Council’s budget build process.

REASON:      In order that the Executive can decide upon the use of Performance Reward Grant prior to the conclusion of the LPSA2 agreement.