MOLE VALLEY GETS NEW ECONOMIC DEVELOPMENT GRANT
Conservative Councillor Chris Hunt, Deputy Leader of the Council has announced the award of a grant from central government. Mole Valley District Council has been awarded £61,096 from the Department for Communities and Local Government for the purposes of economic development. The Government calculates the payment by measuring the increase in the net commercial rateable value of a council area. It then makes a development grant, spread over 3 years, based on a share of that increase.
Says Councillor Hunt:-
"We’re delighted to have secured this grant. The idea is to support economic development, but this can be hard in Mole Valley particularly as we have so many developers wanting to turn offices into residential homes. For years our rateable value has been falling, but finally we’ve managed to turn it around. The council can now spend that money according to local need. It could even reduce the pressure on council tax."
More information can be found on the Communities and Local Government website.
Malcolm Johnson – Communications Officer – Conservative Group of Councillors for Mole Valley
7th July 2008