Purpose

The Cabinet will be provided with an update on
the business case and delivery of the Olding Road project.
 

Decision

Resolved:
 
That:
1.          
The recommended Option 2 and approach for the former depot and
warehouse, as set out in the revised business case included as
Appendix A to Report number CAB/WS/25/039, be approved.
 

2.          
The revision of the current £7.0 million project budget
expenditure be approved, as follows:
 
-     
£6.0 million to deliver Option 2.
-     
£0.77 million budget for solar installation as a top up to
the net zero fund as detailed in Appendix D and
-     
The balance (£0.23 million) to go back into the Investing in
our Growth Agenda fund uncommitted balance.
-     
Of this budget, £5.77 million to be assumed to be funded
through prudential borrowing.
 
3.          
The Portfolio Holder for Resources and the Portfolio Holder for
Leisure be supported to progress plans for the repurposing of the
remainder of the site.
 
4.          
The enabling works of up to £1.5 million from the budget to
mitigate further programme delay, as set out in Appendix A to
Report number CAB/WS/25/039, be agreed.
 
5.          
It be acknowledged that in line with recommendations 1., 2., 3. and
4. above, Officers to proceed in line with the Council’s
agreed Scheme of Delegation.
 
6.          
The Council’s Section 151 Officer to make the necessary
changes to the Council’s prudential indicators, as a result
of recommendations 1., 2., 3. and 4. above.