Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
To approve the Capital Programme 2020-2021 to 2024-2025 Quarter Two Review.
That Cabinet recommend that Council approve:
1. The revised, medium term General Revenue account capital programme of £299.9 million, an increase of £11.4 million from the previously approved programme, and the change in associated resources.
1. Approve the virements for the General Revenue Account capital programme detailed at Appendix 4 to the report for;
i. existing projects totalling £2.7 million;
ii. new projects totalling £6.3 million.
2. Approve the virements for the HRA capital programme detailed at Appendix 4 to the report for;
i. existing projects totalling £1.5 million;
ii. new projects totalling £32.9 million.
3. Approve the Supplemental Deed of Variation relating to governance of Enterprise Zone funding across the four Black Country Authorities detailed at Appendix 5 to the report.
4. Delegate authority to the Cabinet Members for City Economy in consultation with the Director of Regeneration and Director of Governance to conduct any negotiations and to make any minor amendments and to subsequently authorise the sealing of the Supplemental Deed of Variation Relating to the Collaboration Agreement in Relation to the Black Country Executive Joint Committee City Deal and Growth Deal dated the 7 May 2014 and the sealing or signing of any related documents.
5. Delegate authority to the Cabinet Member for Education and Skills, in consultation with the Director of Children’s Services and the Director of Finance, to approve the allocation of the Expansion Programme budgets to individual capital projects including making grant payments where appropriate in order that projects can be progressed in a timely manner.
6. Continue to delegate authority to the Cabinet Member for Resources, in consultation with the Director of Finance to approve the terms of a loan facility to Wolverhampton Homes. This is an extension of time in respect of the approval that was previously given by a joint meeting of Cabinet and Cabinet (Resources) Panel on 23 June 2020.
7. Note there is one new project requiring internal resources included in this report, which is subject to a separate detailed project report also on this agenda. The inclusion of this project is for budget approval purpose and is on the assumption that the approval to progress with the project is given. As the progression is dependent on that decision, if the project is not approved, the capital programme would be reduced accordingly. The name of the project is:
· Future High Street Fund
Report author: Claire Nye
Publication date: 12/11/2020
Date of decision: 11/11/2020
Decided at meeting: 11/11/2020 - Cabinet