Issue - meetings

The report asks Council to agree the addition of up to £750,000 to the revenue budget to be initially funded from reserves, following initial consideration by the Cabinet on 10 July 2018, to support Medway’s Housing Infrastructure Funding (HIF) Bid.

Discussion:

This report provided details of Medway’s Housing Infrastructure Funding (HIF) Bid – New Routes to Growth, which would plan for much needed infrastructure to enable growth in and around the Hoo Peninsula and waterfront regeneration sites. The report stated that funding of up to £750,000 was sought to assist with the preparation of the business case to complete the final co-development stage of the bid.

The Leader of the Council, Councillor Jarrett, supported by the Deputy Leader and Portfolio Holder for Housing and Community Services, Councillor Doe, proposed the recommendation set out in the report.

Decision:

The Council agreed the addition of up to £750,000 to the revenue budget to enable the submission of the Housing Infrastructure Funding (HIF) Bid – New Routes to Growth, to be initially funded from reserves.

Background:

This report provided details of Medway’s Housing Infrastructure Funding (HIF) Bid – New Routes to Growth, which planned for much needed infrastructure to enable growth in and around the Hoo Peninsula and waterfront regeneration sites.

The allocation of an investment of £750,000 was proposed which would create a budget that was capable of developing and submitting a comprehensive and informed HIF bid capable of supporting a robust Green Book Appraisal. It would ensure that all the key technical details of road, rail and community infrastructure were fully developed and costed and that delivery, as well as financial risks, were minimised. 

Reasons for decision:

Additions to the revenue budget are a matter for Full Council.