Cornwall Council and Penzance Town Council agree way ahead over Sainsbury's S106 funds.

Agreement has been reached between Penzance Town Council with Cornwall Council over how to administer the Sainsburys Section 106 funds which have effectively been in limbo since November 2013 when the new Sainsburys store opened. The agreement is subject to confirmation by Town Councillors at the full meeting on Monday 14 July 2014.

The new Board will comprise local Cornwall Councillors (5), Town councillors (2) and representatives from the business community (two from Penzance BID team and two from Penzance Chamber).

The Board will manage elements on the S106 fund totalling in the region of £400,000 plus any funds left unspent from the £1.2 million park & ride contribution.

The Chamber representatives are Emily Kavanaugh, Vice Chair (Pure nuff Stuff, Chapel St) and Sarah Shaw (The Cornish Hen Deli, The Market Place).

The BID Steering Group representatives are Marcus Wilkinson (Chair, BID Steering Group) and Susan Stuart (proprietor of the old Arts Club building in Chapel Street).

Under the proposed terms of reference the new Board approve projects and if Cornwall Council agrees that the spending complies with the terms of the S106 agreement then funding will be transferred to Penzance Town Council to spend. 

Comment

The proposed Board structure gives all local Cornwall Councillors a voice but not quite a majority on the Board. By including representation from the BID Steering group there can be coordination between what is funded today by the S106 and what is funded by the BID in the longer term assuming a successful BID ballot in Spring 2015.