Agenda and minutes

RESOLVED that the decision record of the meeting held on the 22^nd November, 2023 be signed as a correct record.  

The Cabinet Member considered a report detailing proposed changes to the maximum grant values and criteria applied to the Business Start Up Grant and the Business Growth Grant

The current criteria, launched in March 2023, for both Start Up and Growth Grants was up to a maximum of £10,000 based on up to 50% of eligible costs or £5,000 per job created and/or safeguarded, whichever was the lesser. There was also an element of the growth grant of awards of between £10,000 and £50,000 to be considered for applications with innovative and R&D projects and link into Innovation Strategies.

Following a review of progress to date the following changes were proposed to the current grant criteria. However, they would still be based on up to 50% of eligible expenditure or £5,000 per job created and or safeguarded, whichever was the lesser:

1.     The maximum grant award for all applications that do not link to innovation strategy be increased from £10,000 to £50,000.

2.     The maximum grant award for projects linked to the innovation strategy be increased from £50,000 to £90,000.

The Cabinet Member noted that if the proposed changes were to be approved, they would meet the needs of Carmarthenshire businesses and maximise the grant support on offer to enable them to meet their start up and growth plans. Additionally, the increased awards would enable the grants team to maximise fund demand and ensure outputs were achieved.

It was also clarified that the reference on page 9 of the report pack to the fund closing for applications on the 30 September 2023 should have read 30 September 2024

RESOLVED that the Shared Prosperity Fund Start Up and Growth Fund criteria be amended as follows:

1.     The maximum grant award for all applications that do not link to innovation strategy be increased from £10,000 to £50,000.

2.     The maximum grant award for projects linked to the innovation strategy be increased from £50,000 to £90,000.

RESOLVED that the following applications for assistance from the Mynydd y Betws Community Benefit Fund - Round 2 applications be approved subject to the usual terms and conditions and those specified in the report:

(NOTE: Councillor H Evans having earlier declared an interest in this item re-declared that interest)

This item was withdrawn from the agenda and was to be considered by the Head of Regeneration, Policy and Digital in accordance with his delegated authority to approve grant applications up to a value of £10,000.

RESOLVED that the following application for assistance from the 10 Towns Revenue Fund be approved subject to the usual terms and conditions and those specified in the report:

RESOLVED that the following application for assistance from the 10 Towns Capital Fund be approved subject to the usual terms and conditions and those specified in the report:

FOLLOWING CONSIDERATION OF ALL THE CIRCUMSTANCES OF THE CASE AND FOLLOWING THE APPLICATION OF THE PUBLIC INTEREST TEST THE CABINET MEMBER MAY CONSIDER THAT THE FOLLOWING ITEMS ARE NOT FOR PUBLICATION AS THEY CONTAIN EXEMPT INFORMATION AS DEFINED IN PARAGRAPH 14 OF PART 4 OF SCHEDULE 12A TO THE LOCAL GOVERNMENT ACT, 1972 AS AMENDED BY THE LOCAL GOVERNMENT (ACCESS TO INFORMATION) (VARIATION) (WALES) ORDER 2007.

RESOLVED pursuant to The Local Government Act 1972 as amended by The Local Government (Access to Information) (Variation) (Wales) Order 2007 that the following items were not for publication as the reports contained exempt information as defined in Paragraph 14 of Part 4 of Schedule 12A to the Act.

Following the application of the public interest test it was RESOLVED, pursuant to the Act referred to in minute no. 7 above, not to publicise the content of the report as it contained exempt information relating to the financial or business affairs of any particular person (including the Authority holding that information) (Paragraph 14 of Part 4 of Schedule 12A to the Act).

The public interest test in this matter related to the fact that the report contained detailed information about the business and financial affairs and ambitions of the applicants.In this case the public interest in maintaining the exemption under the 1972 Act in respect of this report outweighs the public interest in disclosing the information therein, as disclosure would be likely to place the business named in the report at an unfair disadvantage in relation to their commercial competitors.

The Cabinet Member considered an application received for a Town Centre Loan.

RESOLVED that the following application for a Town Centre Loan be approved subject to the usual terms and conditions and those specified in the report: