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Issue - meetings

Capital Programme

Meeting: 01/02/2018 - Cabinet (Item 116)

116 Capital Programme (00-40-01) pdf icon PDF 162 KB

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.

 

Additional documents:

Minutes:

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.

 

RECOMMENDED to Council that:

 

a)      The detailed Capital Programme for 2018/19 be approved and the estimated amounts for 2019/20, 2020/21 & 2021/22 be noted.

 

b)      The earmarking of New Homes Bonus (NHB) monies of £828k to support the 2018/19 Capital Programme (see para 2.3) be agreed.

 

 

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

 

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