Decision Maker: Cabinet
Is Key decision?: Yes
Is subject to call in?: No
To approve matters relating to the 2016/17 capital budget as at the end of the second quarter
1. That borrowing of £30.0 million be undertaken and a capital grant be paid of the equivalent amount to the West Midlands Combined Authority – Land Remediation Fund be approved. This borrowing was required until the powers of the West Midlands Combined Authority (CA) were revised to enable them to borrow for non-transport related purposes. The CA would in return pay a revenue grant to the Council to cover the borrowing costs of interest and minimum revenue provision.
2. That the additional General Fund resources of £3.4 million be approved for;
i. nine new projects totalling £1.9 million.
ii. i54 Western Extension, a new project, of £1.5 million.
Report author: Mark Taylor
Publication date: 15/12/2016
Date of decision: 14/12/2016
Decided at meeting: 14/12/2016 - Council
Accompanying Documents: