Issue - meetings

The report by the Director of Finance & Information Service (S151 Officer) seeks approval for a capital scheme to be added to the Capital Programme approved by the City Council on 9th February 2016. This will enable various capital investment works and major repairs to the city's Sports and Leisure facilities to be undertaken after the commencement of the new Sports and Leisure contracts for which BH Live have recently been awarded preferred bidder status.

RECOMMENDED to Council that the following be approved:

(1)       The currently approved Capital Programme 2015/16 to 2020/21 is updated to include the capital scheme "Sports and Leisure Facilities Investment" at an estimated cost of £2.4m.

(2)       Following completion of a comprehensive financial appraisal, approved by the Director of Finance & S151 Officer demonstrating that the additional reduction in cost arising from the investment can significantly exceed the associated borrowing costs over the life of the contract, that the cost of the scheme be financed from Prudential Borrowing.

RECOMMENDED to Council that the following be approved:

(1)       The currently approved Capital Programme 2015/16 to 2020/21 is updated to include the capital scheme "Sports and Leisure Facilities Investment" at an estimated cost of £2.4m.

(2)       Following completion of a comprehensive financial appraisal, approved by the Director of Finance & S151 Officer demonstrating that the additional reduction in cost arising from the investment can significantly exceed the associated borrowing costs over the life of the contract, that the cost of the scheme be financed from Prudential Borrowing.

(N.B. as this item is referred to Council for approval it is not subject to call-in)