Rural Initiative Scheme: Funding for Woodside Farms Ltd in 2017

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A decision made 6 December 2017:

Decision Reference: MD-E-2017-0044
Decision Summary Title:	Rural Initiative Scheme funding in 2017 for Woodside Farms Ltd		Date of Decision Summary:	30th November 2017
Decision Summary Author:	Head of Service (EDTSC)		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Rural Initiative Scheme funding to complete the transition of the Amal Grow trading activities to Woodside Farms Ltd		Date of Written Report:	30th November 2017
Written Report Author:	Head of Service (EDTSC)		Written Report : Public or Exempt?	Exempt Article 33 (b)
Subject: Rural Initiative Scheme (RIS) - Phase 3 funding for Woodside Farms Ltd re assistance with the transfer of Amal Grow trading activities.
Decision(s): The Minister approved RIS phase 3 funding of £150,000 in 2017 to assist in the successful transition of the Amal Grow trading activities to Woodside Farms Ltd over the 3 year period 2015 – 2017. That release of the above funding would be subject to the formal acceptance by Woodside Farms Limited of an offer, to be issued by the Head of Service in writing and which must include appropriate terms and conditions as recommended in the accompanying written report.
Reason(s) for Decision: The phase 3 payment completes a total funding package agreed with Woodside Farms Limited in 2015 in order to complete the transfer of the Amal Grow trading activities to Woodside Farms Ltd and maintain local production of a range of seasonal vegetables that are grown and eaten in Jersey. On the basis of due diligence completed by Jersey Business and others, the Minister is satisfied that the release of the phase 3 funding is appropriate and that this decision is consistent with both the original recommendation of the RIS Panel (RIS 350 refers) and Written Report associated with the Minister’s original decision of June 2015 (MD-E-2015-0056 refers).
Resource Implications: Up to £150,000 RIS funding from EDTSC 2017 budget.
Action required: Head of Service to provide an RIS Offer Letter to Woodside Farms Ltd as described above.
Signature: Senator L J Farnham		Position: Minister for Economic Development, Tourism, Sport and Culture
Date Signed:		Date of Decision: