Regulation 7B Payments with respect to designated areaF1

The amount specified by F2this paragraph is the proportion of Redcar and Cleveland Borough Council’s non-domestic rating income calculated in accordance with Part 1 of Schedule 2 to the Non-Domestic Rating (Designated Area) Regulations 2021 F3(“the 2021 Regulations”).

The amount specified by this paragraph is the amount of any section 31 grant paid to Redcar and Cleveland Borough Council in respect of an area designated under regulation 3 of the 2021 Regulations.

For each year that the designation under F5the 2021 Regulations has effect Redcar and Cleveland Borough Council must make a payment to the Tees Valley Combined Authority equal to 50% of the amount (if any) estimated, in accordance with regulation 3, as the amount specified by F6paragraph (1).

For each year beginning on or after 1st April 2026 that the designation under the 2021 Regulations has effect Redcar and Cleveland Borough Council must make a payment to the Tees Valley Combined Authority equal to 50% of the amount (if any) estimated, in accordance with regulation 3, as the amount specified by paragraph (1A).

F8A payment under this regulation must be made in the course of the relevant year in accordance with the schedule of instalments.