Purpose

Due to changes in the economic climate,
options are being provided to stop or proceed with this
project.

Content

RESOLVED that Cabinet
agrees the Preferred Option, to stop the project and not to proceed
with Phase 2 of installation of fibre and ducting.
Voting:
Unanimous

Portfolio Holder(s): Leader of the Council and Portfolio Holder for
Dynamic Places

Deputy Leader and Portfolio Holder for Connected Communities
Reason

(i)      
Due to recent and potentially future volatility with
interest rates, changes in market conditions and increases in
construction costs there is now less certainty about the viability
of the business case.

(ii)     
The project does not meet the current
administration’s criteria for PWLB borrowing.

(iii)    
Derisks the ongoing project for the council and
aligns with the current Corporate Strategy, ‘working with
partners, removing barriers and empowering others’.