Decision Maker: Executive Board
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Authorise the expenditure of £0.5m towards the new supply affordable housing on the 24 unit scheme being developed at Headley Chase.
The Chief Officer (Financial Services) submitted a report providing an update on the current position of the Council’s Capital Programme as at Quarter 2 of 2018/19. The report sought some specific approvals in relation to funding injections together with a related ‘authority to spend’.
(a) That the latest position, as at quarter 2 on the General Fund and HRA Capital programmes, be noted;
(b) That the net increase in the General Fund and HRA Capital Programme 2018-2022 of £109.3m since the Capital Programme update in February 2018, be noted; with it also being noted that these injections and movements are listed in Appendix D to the submitted report, and that £13.574m of schemes require injection approval, as part of the submitted report;
(c) That it be noted that the borrowing required to fund the Capital Programme in 2018-19 has reduced by £13.8m since the Capital Programme setting in February 2018; with it also being noted that the Capital Programme remains affordable within the approved debt budget for 2018-19, and that further work is underway through regular Capital Programme reviews to ensure that future debt costs are maintained within the overall Medium Term Financial Strategy;
(d) That the following £13.574m worth of injections into the Capital Programme, as detailed below and as set out in Appendix D of the submitted report, be approved:-
· £3.402m affordable Housing commuted sums;
· £2.550m Killingbeck Meadows flood alleviation grant;
· £2.000m Section 278 housing developments;
· £0.753m SEND special provision grant;
· £0.735m A65 Leeds Bradford airport link route grant;
· £0.669m adaptations to private sector additional 18/19 grant;
· £0.516m Royal Park Greenspace Enhancements Section 106;
· £0.500m of additional loan funding towards the new supply of affordable housing on the 24 unit scheme being developed at Headley Chase;
· £0.490m Kirkgate Market short stay car park;
· £0.300m fuel poverty fund;
· £0.300m Silk Mill Drive demolition Insurance receipt;
· £0.284m capital receipts incentive scheme (CRIS), as detailed at Appendix E to the submitted report;
· £1.075m remaining 8 smaller schemes, as listed in Appendix D to the submitted report.
(e) That it be noted that the decision to inject funding, as detailed at resolution (d) (above) will be implemented by the Chief Officer - Financial Services;
(f) That the expenditure of £0.500m towards new supply affordable housing on the 24 unit scheme being developed at Headley Chase, be authorised.
Reason Key: Expenditure > £250,000;
Portfolio Holder: Executive Member for Resources & Sustainability
Other reasons / organisations consulted
Contact: Bhupinder Chana, Principal Finance Manager - Capital and Treasury Management 0113 39 51943 Email: email@example.com.
Publication date: 26/11/2018
Date of decision: 21/11/2018
Decided at meeting: 21/11/2018 - Executive Board
Effective from: 01/12/2018