The Committee considered a report by the Head of Place (circulated previously) regarding the North Devon Biosphere Project Development request for funding.

The Chief Executive highlighted the following:

·       The North Devon Biosphere Foundation had requested funding from the Council to support two projects “Digital Biosphere” and “Natural Capital” which would assist in the delivery of the Council’s objectives “cherishing and protecting the environment” and “planning for North Devon’s future”.

·       A similar request for funding had been made to Torridge District Council. The total funding request was for £40,000, £20,000 from each Council.

·       Once the grants had been secured from the Council and Torridge District Council a funding agreement would be put in place and project business cases would be developed.

Councillor Yabsley declared a personal interest as a Devon County Council Member appointed to the North Devon Biosphere Partnership.

RESOLVED that a revenue budget of £20,000 be approved to be funded from the Economic Development earmarked reserve, subject to match funding being agreed by Torridge District Council and an appropriate grant funding agreement being put in place, to provide a grant to support the further development of the:

(a) Digital Biosphere (Smart Biosphere and Accelerator programme)

(b) Natural Capital (£50m Impact Fund and Marketplace)