54 Didcot Growth Accelerator Enterprise Zone - Memorandum of Understanding PDF 222 KB
To consider the report of the deputy chief executive – partnerships.
The chair, Councillor Emily Smith, had declared an interest in this item and left the meeting during its consideration. Councillor Bethia Thomas, vice-chair, took the chair.
Cabinet considered the report of the deputy chief executive – partnerships. This outlined work undertaken to draft a new memorandum of understanding that would set out how local business rates were spent.
The spending of the retained business rates in the Enterprise Zone area was the responsibility of the Oxfordshire Local Enterprise Partnership. The money was spent on infrastructure projects in Oxfordshire but not necessarily in the area from which they were collected. The aim was for the revised memorandum of understanding to confirm the prioritisation of business rates spending on projects in the Didcot Growth Accelerator Enterprise Zone (EZ2) or its surrounding area. Officers would also propose projects that supported the council’s corporate objectives.
Cabinet welcomed the council entering into a revised memorandum of understanding on this basis. Cabinet also supported the council being formally confirmed as the accountable body, as the majority of the enterprise zone was within its district.
(a) that Vale of White Horse District council should enter into a new memorandum of understanding with the Oxfordshire Local Enterprise Partnership, South Oxfordshire District Council and Oxfordshire County Council, for the retention and distribution of business rates growth income from the Didcot Growth Accelerator Enterprise Zone, agreeing the roles of each party and specifically that Vale of White Horse District Council becomes sole Accountable Body; and
(b) to authorise the deputy chief executive – partnerships, in consultation with the Cabinet member for strategic partnerships and place, to finalise terms of the new memorandum of understanding, including non-material amendments, and to enter into it.