The Chief Officer (Financial Services) submitted a report which provided an update on the successful North and West Yorkshire bid to pilot 75% business rates retention in 2019/20; which noted the revoking of the Leeds City Region Pool; requested approval of the formation of a new Joint Committee to oversee the North and West Yorkshire Business Rates Pool; and which also requested agreement of the related Governance Agreement and Terms of Reference.
In considering the submitted report and with reference to the Government’s ‘Fair Funding Review’, the Board welcomed the resource which this pilot would bring to the Council as a member of the North and West Yorkshire Business Rates Pool in 2019/20, whilst Members also emphasised the need for such a scheme, or its equivalent, to be provided on a longer term basis for the benefit of the Council’s forward planning.
In conclusion, the Board extended its thanks to the Chief Officer Financial Services for the work he, and his team had undertaken in leading on the successful pilot bid and also for the ongoing work being undertaken as part of Leeds’ role in being the lead authority for the pool.
RESOLVED –
(a) That the update on the new North and West Yorkshire Business Rates Pool, as detailed within the submitted report, be noted;
(b) That the revoking of the Leeds City Region Pool on 31st March 2019 be noted, and that agreement be given to the disbanding of the Leeds City Region Pool Joint Committee on the same date;
(c) That approval be given to appoint the Leader of Leeds City Council to a new Joint Committee which will oversee the new North and West Yorkshire Business Rates Pool, with such a Joint Committee consisting of the Leaders of those Authorities specified in section 3.5 of the submitted report, and which will have the Terms of Reference, as appended to the submitted report;
(d) That the Governance Agreement for the North and West Yorkshire Business Rates Pool, be noted and agreed;
(e) That the Terms of Reference for the North and West Yorkshire Business Rates Pool, be noted and approved;
(f) That the necessary authority be delegated to the City Solicitor in order to enable the City Solicitor to seek the formal agreement of the other 13 members of the Pool to the new arrangements.