Issue - meetings

To consider a report of the Director of Finance, Assets and Resources seeking approval of the 2018/19 Capital Programme and requesting that the draft 2019/20, 2020/21 & 2021/22 programmes be noted.

The Cabinet had before it a * report of the Director of Finance, Assets and Resources seeking approval of the 2018/19 Capital Programme and requesting that the draft 2019/20, 2020/21 & 2021/22 programmes be noted.

The Cabinet Member for Finance outlined the contents of the report explaining how the programme would be funded.  He highlighted the reduction in the New Homes Bonus which would have an impact on future capital programmes, there would therefore be a need to explore more commercial options to balance budgets.

Consideration was given to:

·         Monies proposed for asset acquisition and the need for a business case for each venture, it was highlighted that funds needed to be available if an opportunity arose to invest in property and therefore a sum had been proposed.

·         The proposal for affordable housing at  Post Hill, Tiverton (former Waddeton park site)

·         The Mills Project and although the initial funding bid had failed, further funding was being sought.

(Proposed by Cllr P H D Hare-Scott and seconded by Cllr R L Stanley)

Note:  *Report previously circulated, copy attached to minutes.