Issue - meetings

Report of the Deputy Section 151 Officer attached.

Decision made (Unanimously):

That Cabinet grants delegated authority to the Head of Paid Service and Monitoring Officer to enter into a legal agreement between South Ribble Borough Council and Lancashire County Council (as accountable body for Lancashire Enterprise Partnership Ltd) which will formalise the payment growth in business rates in relation to Samlesbury Aerospace Enterprise Zone to the Lancashire Enterprise Partnership.

The Cabinet Member (Finance, Property and Assets), Councillor Matthew Tomlinson presented a report of the Deputy Section 151 Officer that requested approval to enter into an agreement with Lancashire County Council in relation to the payment over a business rates growth from the Enterprise Zone.

It was explained that the proposal was to sign the Enterprise Zone Business Rate agreement between South Ribble Borough Council and Lancashire County Council to formalise the arrangement for payment over of the Business rates which relates to growth in the Enterprise Zone.

At the end of the 2018/19 financial year, the amount of retained business rate income in relation to the Designated Area was £418,171. This amount included back dated rates receivable for 2016/17 and 2017/18. The Council’s business rate baseline excludes any business rates income for this site and as such the full amount is payable to LCC, as the accountable body for the Lancashire Enterprise Partnership (LEP).

From 2019/20 onwards, South Ribble will continue to collect relevant business rates growth and make payment to the LEP during the year based on the forecast for the year. There will be an annual reconciliation at the end of the financial year and a reconciliation payment will be paid to/recovered from the LEP.

It was proposed by Councillor Matthew Tomlinson, seconded by Councillor Mick Titherington and

Decision made (Unanimously):

That Cabinet grants delegated authority to the Head of Paid Service and Monitoring Officer to enter into a legal agreement between South Ribble Borough Council and Lancashire County Council (as accountable body for Lancashire Enterprise Partnership Ltd) which will formalise the payment growth in business rates in relation to Samlesbury Aerospace Enterprise Zone to the Lancashire Enterprise Partnership.

Reason(s) for the decision:

This is a key decision as the business rates income to be paid over is greater than £100,000 and therefore requires Cabinet approval. There are no budget implications as this income is earmarked for this purpose.

Alternative Options Considered and Rejected:

None.