Issue - meetings

This report provides details of the Innovation Park Medway Growing Places Fund (GPF) Project. Following approval of the funding request by the South East Local Enterprise Partnership (SELEP) Accountability Board, and consideration of this report by the Cabinet on 25 September 2018, Full Council is asked to approve the addition of the project to the Capital Programme.

Discussion:

This report provided details of the Innovation Park Medway Growing Places Fund (GPF) project which would allow essential enabling works to be completed on the southern site. A final Business Case was submitted to the South East Local Enterprise Partnership (SELEP) at the end of April 2018.  Following review by the Independent Technical Evaluator, the Business Case was presented to SELEP Accountability Board, which approved the funding award on 14 September 2018.

The Cabinet considered this report on 25 September 2018 and its comments were set out in section 4 of the report.

The Leader of the Council, Councillor Jarrett, supported by the Portfolio Holder for Educational Attainment and Improvement, Councillor Potter, proposed the recommendation set out in the report.

Decision:

The Council approved the addition of £650,000 to the Capital Programme, for the Innovation Park Medway southern site enabling works project, as set out in section 2 of the report, the loan to be repaid from the eventual capital receipt on disposal.

Background:

This report provided details of the Innovation Park Medway Growing Places Fund (GPF) project, which would allow essential enabling works to be completed on the southern site of the Innovation Park. Completion of these works would de-risk the site for potential occupiers and would as a result bring forward development. 

The report stated that the funding would allow the following works to be completed: access road with shared footpath; cycle route; lighting and signage; utility ducting/service strip; fencing around the site boundary (as required); and demolition of the disused rifle range.

A final Business Case had been submitted to the South East Local Enterprise Partnership (SELEP) at the end of April 2018. Following review by the Independent Technical Evaluator the Business Case was presented to SELEP Accountability Board, which approved the funding award on 14 September 2018.

Reasons:

Additions to the Capital Programme are a matter for Full Council.