To consider approval of the East Lindsey Investment Fund Plan.

1.    That the principles in the East Lindsey Investment Fund Plan, as detailed in this report to guide the allocation of funding and resources be approved.

2.    That the allocation of the East Lindsey Investment Fund for each theme – Pride in Place; Tourism and Events; Community Development; Business Growth and Development be approved.

3.    That the Assistant Director theme lead in consultation with the relevant Portfolio Holder be delegated authority to utilise the Investment Fund to support enabling activity, including the procurement and appointment of consultants/contractors, provide staffing resource and delivery of pilot projects to support the development of action plans relevant to each theme.

4.    That an allocation of up to 5% of the Investment Fund to support the enabling activity be approved.

5.    That the Director for Economic Development in consultation with the Portfolio Holder for Market Towns and the Rural Economy be delegated authority to support the establishment, administration and Terms of Reference for a Market and Inland Towns Group – the Connected Wolds – to support engagement with businesses, local communities and town/parish councils.

6.    That an allocation of up to 2% of the Investment Fund to resource and support the Groups (Connected Wolds and Connected Coast), which will include, but not be limited to, enabling engagement with businesses, local communities and town/parish councils, and supporting the establishment of a new Market and Inland Towns Group be approved.

A report was presented to seek approval of the East Lindsey Investment Fund Plan.

As set out in the report, the Plan provided the principles for investment and the themes for the allocation of funding. The programme would focus on delivery, build capacity and committed to an inclusive and collaborative approach that would benefit the whole District and work in partnership with communities, town and parish councils and local businesses.

The East Lindsey Investment Fund Plan had been developed to support the delivery of the South and East Lincolnshire Councils Partnership Growth and Prosperity Plan, and in accordance with the Corporate Priorities Reserve areas of focus.

During his introduction of the report, the Leader of the Council stated that he was very pleased to present a paper that would change the lives of residents and communities and passed his thanks to the Portfolio Holder for Market Towns and Rural Economy and the Portfolio Holder for Coastal Economy for their support and work on the plan.

The Leader of the Council highlighted that this was a significant amount of investment with £10m of funding from the corporate priorities reserve looking to making ELDC’s places welcoming, supporting events and markets that people enjoyed, attracting visitors, community development, supporting business growth and development for the benefit of all communities.

The Portfolio Holder for Market Towns and Rural Economy stated that he was delighted to part present the paper and that significant funding was being allocated to the entire district to have as much impact in the inland areas in the market towns, the same way towns funding projects had made on the coast.  Furthermore, it was important to support communities and the small community groups and those small villages and hamlets that made up large areas of East Lindsey.  The Portfolio Holder for Market Towns and Rural Economy added that he was pleased to see the establishment of a Market and Inland Towns Group ‘the Connected Wolds’ to support engagement with businesses, local communities and town/parish councils and to learn lessons from the Connected Coast Board on what worked well to feed into the new group so that some momentum could be got behind this as quickly as possible.

The Portfolio Holder for Coastal Economy highlighted that since the inception of the Council and in its landmark 50^th year, he was not aware that this amount of investment had ever been made in the market towns.  He commented that this was down to the careful management of the Council’s funds and hoped that the new Market and Inland Towns Group would be successful in securing a large amount of external funding.  He added that East Lindsey was a special area, with its heritage, traditions and people that should be celebrated and was very happy to support the paper.

In summary, the Leader of the Council highlighted that this plan affected all communities, not just those identified in the report and pointed out that an uplift to a hamlet would be entirely different to that of a large town and it was important to recognise that this was now an opportunity for those communities.  He agreed that it was also important to reflect on lessons learned from the experiences the Council had had with the Connected Coast Board and UK Shared Prosperity Fund and as a result of this, the Council had been able to put its own money into promoting and processing a large number of schemes even further.

Further to a discussion on the commitment and effort involved, Members’ thanks were passed to the officers involved in the tireless work it had taken to get to this stage.

The Portfolio Holder for Communities and Better Ageing stated that the investment was a tremendous opportunity and would help those market towns and inland communities who may consider they had missed out when looking what had been achieved along the coastal strip over recent years and offered his thanks for an exciting opportunity.

RESOLVED:

1. That the principles in the East Lindsey Investment Fund Plan, as detailed in this report to guide the allocation of funding and resources be approved.

2. That the allocation of the East Lindsey Investment Fund for each theme – Pride in Place; Tourism and Events; Community Development; Business Growth and Development be approved.

3. That the Assistant Director theme lead in consultation with the relevant Portfolio Holder be delegated authority to utilise the Investment Fund to support enabling activity, including the procurement and appointment of consultants/contractors, provide staffing resource and delivery of pilot projects to support the development of action plans relevant to each theme.

4. That an allocation of up to 5% of the Investment Fund to support the enabling activity be approved.

5. That the Director for Economic Development in consultation with the Portfolio Holder for Market Towns and the Rural Economy be delegated authority to support the establishment, administration and Terms of Reference for a Market and Inland Towns Group – the Connected Wolds – to support engagement with businesses, local communities and town/parish councils.

6. That an allocation of up to 2% of the Investment Fund to resource and support the Groups (Connected Wolds and Connected Coast), which will include, but not be limited to, enabling engagement with businesses, local communities and town/parish councils, and supporting the establishment of a new Market and Inland Towns Group be approved.

Reasons

1. Guidance for Resource Allocation: Establishing clear principles in the East Lindsey Investment Fund Plan is essential to ensure that funding is allocated efficiently and in alignment with strategic priorities, such as enhancing pride in place, tourism, community, and business development.

2. Themed Funding Allocation: Allocating funds across key themes like "Pride in Place," "Tourism and Events," "Community Development," and "Business Growth" ensures that resources are strategically distributed to address the most important areas for local growth and improvement.

3. Delegated Authority for Action: Granting delegated authority to the Assistant Director, in consultation with portfolio holders, facilitates effective decision-making and flexibility in hiring consultants, procuring services, and implementing pilot projects to quickly develop action plans for each theme.

4. Support for Enabling Activities: Allocating up to 5% of the fund for enabling activities provides a dedicated budget for essential preparatory work such as staffing, consultation, and early-stage projects, ensuring proper planning and development.

5. Engagement with Local Communities: Creating a "Market and Inland Towns Group" (Connected Wolds) allows for effective engagement with businesses, local communities, and town/parish councils, fostering collaboration and alignment of local priorities with the Growth and Prosperity Plan and the Corporate Priorities Reserve areas of focus.

6. Resourcing the Groups: Allocating up to 2% of the fund to support the establishment and operation of the Connected Wolds group ensures that there are adequate resources for business and community engagement, helping the group to effectively promote and support local market towns and rural areas.

Other Options

Option 1:  Proceed as per the recommendations of this Report, which will focus on delivery, build capacity and commit to an inclusive and collaborative approach that will benefit the whole District.

Option 2: Do nothing, which would result in the recommendations not being taken forward, with the opportunity to deliver a programme of investment not actioned and the wider benefits of the report detailed below will also not be realised.