From the Executive Meeting Agenda 12/8/14

PIF 2012/13

Portas Pilot Bid match-funding

As a Portas Pilot, Stockport secured £0.100m funding, plus £0.100m Council capital match funding, with £0.020m of the capital allocation having been spent in 2012/13.

In September 2013 the Portas Pilot Project Delivery Group (PPPG), (established following the Stockport Town Team vote in April 2013), agreed to allocate funds to a number of projects using the funds available to them (including this capital match-funding), with all expenditure needing to be completed by May 2015.

The PPPG allocated the capital match –funding resources to three projects:

1) Council Managed Grant Scheme (£0.020m) – Grants of £0.002m will be awarded to new and existing businesses to make physical improvements to their premises. It is anticipated that £0.020m expenditure will take place 2014/15.

2) Stockport Market Events (£0.020m) – £0.020m will be spent on events for Stockport Market during Quarter 3 of 2014/15. No details have yet been provided by the PPPG or the project applicants.

3) Unallocated (£0.037m) – The previously anticipated installation of a “Gateway Arches” feature at the entrance of Little Underbanks will now not be proceeding. As such the PPPG are currently considering other project proposals, several of which may require capital funding support from the Portas Pilot Bid match-funding.

It is envisaged that the remaining allocation of £0.077m will be spent in the current financial year.