City Learning Quarter Delivery
[To provide an update on the funding status and strategy for the City Learning Quarter and seek approval to take the required steps to allow commencement of procurement and delivery works for Phase 2]
Additional documents:
Decision:
1. That it be approved, if the Council receives confirmation of the remaining funding from Government, temporary borrowing would be provided in order to cash flow the project until grants were received.
2. That it be approved, as a funder of last resort, the Council provide up to £x million of budget as detailed in the exempt report, funded by borrowing, to provide additional contingency for the project. This recognises the cost increases being seen in the construction sector and that the current project estimates are subject to tender prices.
3. That it be approved, that authority be delegated to the Leader of the Council and Deputy Leader: Inclusive City Economy in consultation with the Directors for Regeneration and Finance to build in the supplementary budget up to the approved amount at such a time as required.
Minutes:
The Deputy Leader: Inclusive City Economy, Councillor Stephen Simkins presented the exempt report on City Learning Quarter Delivery for approval. The report was exempt as it contained information relating to the financial or business affairs of any particular person (including the authority holding that information).
The Deputy Leader: Inclusive City Economy, Councillor Stephen Simkins proposed the recommendations and the Cabinet Member for Education, Skills and Work, Councillor Dr. Michael Hardacre seconded the recommendations.
Resolved:
City Learning Quarter Delivery
[To provide an update on the funding status and strategy for the City Learning Quarter and seek approval to take the required steps to allow commencement of procurement and delivery works for Phase 2][Report to follow]
Additional documents:
Decision:
That Council be recommended to approve:
1. That if the Council receives confirmation of the remaining funding from Government, temporary borrowing would be provided in order to cash flow the project until grants are received.
2. That as a funder of last resort, the Council provide up to £5 million of budget, funded by borrowing, to provide additional contingency for the project. This recognises the cost increases being seen in the construction sector and that the current project estimates are subject to tender prices. Further approve the delegation of authority to the Leader of the Council and Deputy Leader: Inclusive City Economy in consultation with the Directors for Regeneration and Finance to build in the supplementary budget up to the approved amount at such a time as required.
That Cabinet (Resources) Panel approves:
1. That the procurement of the construction contract is progressed in line with the procurement strategy outlined in the report, but that a contract is only awarded when all funding is secured.
2. The delegation of authority to the Leader of the Council and Deputy Leader: Inclusive City Economy in consultation with the Directors for Regeneration and Finance to award contracts for the delivery of Phase 2 of the City Learning Quarter to the successful tenderers following the procurement processes outlined in this report.
3. The delegation of authority to the Leader of the Council and Deputy Leader: Inclusive City Economy in consultation with the Chief Operating Officer and Director of Finance to enter into any necessary agreements, contracts or arrangements for the delivery of the Phase 1 and Phase 2 of the City Learning Quarter Scheme.
That Cabinet (Resources) Panel notes:
1. That the Council intends to transfer the freehold of the College building land on completion of the works, and notes that this will be the subject of a further report.
Minutes:
Mark Taylor, Deputy Chief Executive left the meeting whilst Cabinet (Resources) Panel considered this report.
Councillor Stephen Simkins presented for approval the exempt version of the report, City Learning Quarter Delivery.
Resolved:
That Council be recommended to approve:
1. That if the Council receives confirmation of the remaining funding from Government, temporary borrowing would be provided in order to cash flow the project until grants are received.
2. That as a funder of last resort, the Council provide up to £5 million of budget, funded by borrowing, to provide additional contingency for the project. This recognises the cost increases being seen in the construction sector and that the current project estimates are subject to tender prices. Further approve the delegation of authority to the Leader of the Council and Deputy Leader: Inclusive City Economy in consultation with the Directors for Regeneration and Finance to build in the supplementary budget up to the approved amount at such a time as required.
That Cabinet (Resources) Panel approves:
1. That the procurement of the construction contract is progressed in line with the procurement strategy outlined in the report, but that a contract is only awarded when all funding is secured.
2. The delegation of authority to the Leader of the Council and Deputy Leader: Inclusive City Economy in consultation with the Directors for Regeneration and Finance to award contracts for the delivery of Phase 2 of the City Learning Quarter to the successful tenderers following the procurement processes outlined in this report.
3. The delegation of authority to the Leader of the Council and Deputy Leader: Inclusive City Economy in consultation with the Chief Operating Officer and Director of Finance to enter into any necessary agreements, contracts or arrangements for the delivery of the Phase 1 and Phase 2 of the City Learning Quarter Scheme.
That Cabinet (Resources) Panel notes:
1. That the Council intends to transfer the freehold of the College building land on completion of the works, and notes that this will be the subject of a further report.