Issue - meetings

This report sets out proposals to make additions to the Council’s Capital Programme for 2014/2015.

Discussion:

This report provided details of proposed additions to the capital programme for three key schemes (Strood Sports Centre, the Medway Crematorium and the Corn Exchange), which would be funded by prudential borrowing. The report set out the proposed works and funding requirements for each of the projects.

The Cabinet considered this report on 8 April 2014 and its recommendations to Council were set out in the report.

An exempt appendix provided further financial details of the Crematorium Improvement Programme.

The Portfolio Holder for Finance and Deputy Leader, Councillor Jarrett, supported by the Portfolio Holder for Housing and Community Services, Councillor Doe, proposed the recommendations set out in the report:

Decisions:

(a)   The Council approved the addition of Strood Sports Centre redevelopment to the capital programme with funding of £500,000 at this stage tobe funded by Prudential Borrowing.

(b)   The Council approved the additional Prudential Borrowing requirement of up to £475,000, so that the Crematorium Improvement Project could be concluded.

(c)   The Council approved the addition of the Corn Exchange Improvement Programme to the capital programme with funding of £100,000 to be funded by Prudential Borrowing.

Background:

This report provided details of three schemes it was proposed to add to the Capital Programme.  It was noted that Full Council had approved the Capital Programme 2014/2015 and beyondon 20 February 2014 and that these schemes had arisen since then which would be funded by prudential borrowing: Strood Sports Centre refurbishment; Crematorium improvement works and; Corn Exchange refurbishment.

The report provided details of the individual schemes and an exempt appendix provided commercially confidential details as to the Crematorium negotiations.

It was noted that the funds for the Corn Exchange refurbishment should also include the entrance to the Princes Hall on the High Street and the paint peeling from the clock above the entrance to the Princes Hall.

Reasons:

Approval for these schemes will allow the Improvement programmes to be put in place, delivering high quality services for our customers.