Decision details

Thetford Enterprise Park Delivery Plan

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To accept funding from the Norfolk Business Rates Pool and to agree a programme of activity to bring about a first development on the Thetford Enterprise Park.

Decision:

1)     Acceptance of £75,000 from the Norfolk Business Rates Pool to support the proposed delivery plan and authorises the Executive Director Commercialisation in consultation with the Executive Member for Corporate Strategy and Investment to approve the terms of the grant and enter into the grant agreement, be approved.

 

2)     Match funding of £75,000 from the Growth and Investment Fund in pursuit of the proposed delivery plan, be approved.

Reasons for the decision:

The Thetford Enterprise Park (TEP) employment site is on a strategic location immediately adjacent to the A11 and at the heart of the Cambridge-Norwich Tech Corridor.  With the completion of the TEP access roundabout and the starting of schemes to upgrade water and electricity to northern Thetford, it is now timely to make progress on remaining TEP site constraints to a point where first developments can commence.

Alternative options considered:

1)     Accept the £75,000 Norfolk Business Rates Pool funding and allocate £75,000 from the Growth and Investment Fund so that the project can proceed.

2)     Do not accept the £75,000 from the Norfolk Business Rates Pool and do not proceed with the project.

Report author: Robert Campbell

Publication date: 06/02/2019

Date of decision: 05/02/2019

Decided at meeting: 05/02/2019 - Cabinet

Effective from: 14/02/2019

Accompanying Documents: