Decision details

The Cabinet was updated on the activity of East Midlands Development Company (EM DevCO) throughout 2021/22, the company’s outline Business Plan 2022/23 and to confirm the authority’s grant funding contribution to the EM DevCo for 2022/23.

EM DevCo had been set up to focus on plans for the co-ordinated delivery of development and infrastructure at Toton and Chetwynd, Ratcliffe Power Station and East Midlands Airport area. The interim vehicle had been established to drive forward the proposition whilst the parliamentary processes required to establish the proposed model of Locally Led Urban Development Corporation.

Discussions ensued regarding connectivity, the environment and opportunities to support the Toton plan. A query relating to funding of the train station at Toton was raised and Members expressed disappointment in relation to the decision around HS2. Without the contribution the business case from EM DevCo would not be as ambitious as planned and opportunities could be missed.

RESOLVED that the year 2 contributions of £167,000 be approved.

Reason

This was an opportunity to provide greening within the Erewash valley and ensure builds are carried out within the right areas to prepare for future generations.