Decisions for issue COVID-19 Additional Restrictions Grant (ARG) Remaining Funds (Tranche 2) Defrayment
Issue - decisions
COVID-19 Additional Restrictions Grant (ARG) Remaining Funds (Tranche 2) Defrayment
28/05/2021 - COVID-19 Additional Restrictions Grant (ARG) Remaining Funds (Tranche 2) Defrayment
Decision:
Recommendations approved.
Reasons for the Recommendation(s):
Recent Guidance published by the Department for Business, Energy & Industrial Strategy in March 2021 now require local authorities to shorten their ARG spend profiles by 9 months from 31 March 2022 to 30 June 2021, in order to obtain the conditional 3rd tranche allocation of this funding.
Alternative Options Considered and Rejected:
Officers have considered other options which would see another round of top-up grants to businesses who have been successful under the existing ARG schemes; however this was rejected by Officers as a round of top-up funding is already due to take place for successful ARG applicants which will be funded from current existing residual ARG funds, as outlined in this report