Purpose

To approve capital programme 2024-2025 to
2028-2029 quarter two review.

Content

That Council be recommended to approve:
1.   
The revised, medium term General Fund capital programme of
£338.0 million, an increase of £4.0 million from the
previously approved programme, and the change in associated
resources.

 
That
Cabinet:
1.   
Approve the virements for the General Fund capital programme
detailed at Appendix 4 to the report for:

i.       
existing projects totalling £11.5 million;

ii.     
new projects totalling £183,000.

 
2.   
Approve the virements for the Housing Revenue Account (HRA) capital
programme derailed at Appendix 4 to the report for:

i.       
existing projects totalling £7.2 million.

 
3.   
Delegate authority to the Deputy Director of Assets, in
consultation with the Section 151 Officer or their delegates, to
approve virements from the provision for future projects budget
held within the Corporate Asset Management capital programme to
individual schemes in order that corporate priorities can be
addressed in an agile and timely manner
 
That Cabinet note:
1.   
That a report on today’s agenda to Cabinet meeting sets out
an update to the Brewer’s Yard (Phase 1) project. In line
with the Our Future Council programme, the virements for approval
detailed at Appendix 4 to this report recommends the reallocation
of £3.7 million of Council resources to the Corporate
Provision and Contingency for Future Programmes. This would ensure
that future capital needs can be met over the medium term through
existing resources, thus reducing the need to incur additional
prudential borrowing above currently approved budgets. If the
report is not approved, the capital programme would be updated
accordingly. The report subject to approval is:
 

·      
Brewers Yard (Phase 1) Culwell Street Update and Re-evaluation