Issue - meetings

As part of the Council’s active engagement in the recovery of the local economy in Epsom and Ewell, it is important that the Council takes steps to ensure the borough is in a position to access inward investment opportunities from the Local Enterprise Partnership (LEP), the County Council, and from Government. 

Key to this is developing a pipeline of future investment opportunities that are capable of being brought forward in a reasonable timeframe.  This report recommends that a one-off budget of £50,000 be allocated to enable the Council to progress the development of this future investment pipeline.

Following consideration, it was resolved that the Committee:

(1)      Agreed to the allocation of £50,000 to support the development of a pipeline of future investment opportunities for Epsom and Ewell to be financed from the Council’s corporate projects reserve;

(2)      Agreed that development proposals arising from this work be brought back to Strategy & Resources Committee for consideration.

The Committee received a report recommending that a one-off budget of £50,000 be allocated to enable the Council to progress the development of this future investment pipeline.

The following matters were considered:

a)            Support for local areas. The Chief Operating Officer informed the Committee thatopportunities for investment would be sought from across the Borough, not just within the town centre.

b)           Timing for investment. The Chief Operating Officer informed the Committee that the Government, County Council and Coast to Capital LEP were looking to invest in schemes in Boroughs and Districts as an approach to support economic recovery. The Chief Operating Officer highlighted that investment supported jobs and confidence in the local economy. By developing a pipeline of future investment opportunities the Council was positioning itself to take advantage of those potential external investment streams. If the Council did not have a set of potential schemes identified, it was likely that external investment would be allocated to other parts of the County instead.

Following consideration, it was resolved unanimously that the Committee:

(1)      Agreed to the allocation of £50,000 to support the development of a pipeline of future investment opportunities for Epsom and Ewell to be financed from the Council’s corporate projects reserve;

(2)      Agreed that development proposals arising from this work be brought back to Strategy & Resources Committee for consideration.