Decision details

Councillor Beales presented a report which updated Members on progress with the development of the King’s Lynn Innovation Centre (KLIC) at the Nar Ouse Regeneration Area (NORA) in partnership with Norfolk & Waveney Enterprise Services (NWES) and summarised the outcome of the procurement process to appoint a contractor to build the centre.

Councillor Beales, in presenting the report advised Members that an additional report would be forthcoming on the outcome of the method chosen for ground improvement works on the site.

Councillor Long drew attention to the fact that when the matter was debated at the Regeneration Environment and Community Panel, which had supported the proposals,  the figure for the submission for grant funding had been increased to £450,000 which was the maximum permitted.  This was supported.

RESOLVED:1)       That the submission of an application for £450,000 grant funding to the Norfolk Business Rate Pool to cover the build cost shortfall following submission of tenders be endorsed.

2)       That in the event that the bid to the Norfolk Business Rates Pool is unsuccessful, the Cabinet agrees to provide a loan of £450,000 to NWES to enable them to meet the build cost shortfall.

3)       That a further report be presented to Cabinet on the outcome of the method chosen for the ground improvement works.