To update Cabinet on progress with Freeport East, and draw Cabinet’s attention to the obligations placed on Tendring District Council (TDC) by the Freeport East Memorandum of Understanding (MoU).

To recommend that authority to agree the final Freeport East MoU, on behalf of TDC, acting as Billing Authority, be delegated to the Deputy Leader of the Council & Portfolio Holder for Corporate Finance and Governance.

To set out the new TDC Business Rates Retention Policy for Freeport East and to agree a Freeport Business Rates Relief Policy.

RESOLVED that Cabinet –

(a)       notes the progress made with the Freeport East Programme as set out in the joint report of the Leader of the Council and the Portfolio Holder for Corporate Finance & Governance (A.2);

(b)       delegates the authority, acting on behalf of the Council as Billing Authority, to agree the final Freeport East Memorandum of Understanding (MOU) to the Deputy Leader of the Council & Portfolio Holder for Corporate Finance and Governance;

(c)       approves and adopts TDC’s Freeport East Policy for Managing Retained Business Rates, as attached as Appendix B to item A.2 of the joint report of the Leader of the Council and the Portfolio Holder for Corporate Finance & Governance;

(d)       approves and adopts the Freeport Business Rates Relief Policy, as attached as Appendix C to item A.2 of the joint report of the Leader of the Council and the Portfolio Holder for Corporate Finance & Governance;

(e)       delegates authority to the Assistant Director (Finance & IT) to implement and administer the Business Rates Relief Policy as adopted; and

(f)        delegates authority to the Assistant Director (Finance & IT), in consultation with the Portfolio Holder for Corporate Finance and Governance and the Portfolio Holder for Housing to amend the scheme to reflect any emerging Government guidance / legislation.

Cabinet considered a joint report of the Leader of the Council and the Portfolio Holder for Corporate Finance & Governance (A.2) which:-

updated it on progress with Freeport East, and drew its attention to the obligations placed on Tendring District Council (TDC) by the Freeport East Memorandum of Understanding (MoU);

recommended that authority to agree the final Freeport East MoU, on behalf of TDC, acting as Billing Authority, be delegated to the Deputy Leader of the Council & Portfolio Holder for Corporate Finance and Governance; and

set out the new TDC Business Rates Retention Policy for Freeport East and sought Cabinet’s agreement for a Freeport Business Rates Relief Policy.

Business Case

It was reported that during 2022 Freeport East had responded to the ‘critical actions’ to refine the business case requested by Government. The final version of the Full Business Case with the response to those actions had been assessed by HM Treasury at the end of November 2022. The Full Business Case had been approved on 10 January 2023, with a number of outstanding actions for completion. Following that approval, a Parliamentary Reception event had been held by Freeport East Ltd to engage partners with the local MPs, officials and the Government Minister and a Freeport East local launch event was planned, expected in February 2023.

Company

Cabinet recalled that the Leader’s Freeport East Working Party, at its meeting held on 31 August 2022, had recommended that the Council joined the Freeport East Company as a founding Member; that the Council entered into a Members’ Agreement with other partner organisations in Freeport East; and that the Leader of the Council (Councillor Stock OBE) joined the Board of the Company as the Member representative Company Director from Tendring District Council (TDC). Freeport East had been formally incorporated as a company on 6 December 2022 and Councillor Neil Stock OBE had been appointed to Freeport East’s board of directors, in line with the Cabinet’s decision, with the Chief Executive (Ian Davidson) as his alternate, in line with Full Council’s decision.

Senior roles and groups

It was reported that Freeport East had appointed a Chief Executive Officer, Stephen Beel, who had started in this role on 21 September 2022, and a new Chairman, Mark Lemmon, who had chaired the first meeting of the new company Board on 7 December 2022. The company was now implementing aspects of the business case, such as setting up a Management Committee, to be chaired by Stephen Beel, and the first of the Theme groups, which would develop future proposals for Freeport East. Those included skills, innovation, and trade and investment. TDC would be represented by officers on the Management Committee and Theme Groups.

Investment Zones

Members were made aware that an Expression of Interest (EOI) had been submitted by Freeport East in response to the Government’s call for submissions for Investment Zones, which included the Freeport East area. However, since the Autumn Statement on 17 November 2022 the Government’s Investment Zone policy  ...  view the full minutes text for item 99