Decision details

Economic Development (ED) Service Transformation Phase 1

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

The report requests that Council approve the set up of a Community Interest Company (CIC) to enable the Economic Development Service to bid for contracts that could generate income and test the market demand for its products and services.  This was a Phase 1 approach over the financial year 2014/15 prior to the service becoming a wholly owned subsidiary based on the success of Phase 1.

Decision:

RECOMMEND to Council that:

 

1)     a Breckland Council wholly owned Community Interest Company (CIC), Resource for Growth CIC be set up;

 

2)     the Economic Development Manager be appointed as the CIC Director;

 

3)     an interim CIC Board be set up consisting of the Portfolio Holder for Assets & Strategic Development, the Chief Executive and the Economic Development Manager to provide governance and monitor performance on behalf of the Council; and

 

4)     the Audit Committee and the Cabinet to receive quarterly reports from the Interim CIC Board on financial performance.

Reasons for the decision:

Option 1, recommendation 1 would enable the Economic Development Service to set up a CIC to market test its products and services and provide additional information and evidence to support the business plan for the transformation of the Economic Development Service.  Recommendations 2, 3 and 4 would provide the necessary statutory governance and oversight for the CIC and the Council for Phase 1.

Alternative options considered:

Option 1

 

1)     a Breckland Council wholly owned Community Interest Company (CIC), Resource for Growth CIC be set up;

 

2)     the Economic Development Manager be appointed as the CIC Director;

 

3)     an interim CIC Board be set up consisting of the Portfolio Holder for Assets & Strategic Development, the Chief Executive and the Economic Development Manager to provide governance and monitor performance on behalf of the Council; and

 

4)     the Audit Committee and the Cabinet to receive quarterly reports from the Interim CIC Board on financial performance.

 

 

Option 2

 

Do nothing.

 

 

 

Report author: Mark Stanton

Publication date: 09/01/2014

Date of decision: 07/01/2014

Decided at meeting: 07/01/2014 - Cabinet

Accompanying Documents: