A TRIAL scheme set up by the Department for Communities and Local Government three years ago has resulted in South Lakeland District Council receiving a grant of over £1m, which has been a valuable source of funding for one-off initiatives.
The Local Authorities Business Growth Incentive (LABGI) scheme has been treated as windfall income by the council as the amount of money received is always unexpected. The accumulated funds are now sizeable and will be accounted for separately with c
lear guidelines to provide clarity on what the money can be used for.
At a recent council meeting, councillors agreed to allocate £99,500 from the fund for a new project officer in the Culture and Economy Group.
The post will be for a fixed term of three years and will create additional capacity within the current team to deliver projects linked to economic regeneration and which are the council's top priorities.
Councillors also agreed to sponsor the Great North Swim by providing £45,000 over a three-year period. The first mass participation event, taking place at Windermere on September 13, will challenge novices and professionals alike to swim one mile in open water and SLDC is keen to support the first event of this kind being held in the UK.
In the past, South Lakeland District Council has spent the grant on one-off initiatives that contribute directly to one or more of the council's priority objectives linked to economic regeneration and has decided to continue with this.
Coun Andy Shine, portfolio holder for Policy, Performance & Resources, said: "The council has always treated the LABGI scheme as extremely beneficial but an unexpected windfall.
"The principle of spending this grant on economic regeneration measures and initiatives, which contribute directly to the council's corporate priorities, will continue," he added.
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