Issue - meetings

The report by the Chief Executive seeks to amend the City Council's approved Capital Programme 2018/19 to 2023/24 to increase the Southsea Coastal Defence Capital scheme budget so the Council can submit a Full business case to the Environment Agency for £107m of Flood Defence in Aid Grant.

RECOMMENDED to Council that:

(1)       In order to close the existing funding gap, the Council approve an amendment to the Capital Programme and increase the total Southsea Coastal Flood Defence budget to £131m to be funded by additional Environment Agency Grant of £24m and, if required, Corporate Capital Resources of £17m.

(2)       That delegated responsibility be given to the Director of Regeneration and the S.151 Officer to investigate alternative funding sources between now and when this additional funding in recommendation 1 is actually required in order to mitigate the potential reduction in the Corporate Capital Resources available for future Capital Investment elsewhere across the City should the £17m be required and to amend the Capital Programme as necessary. 

RECOMMENDED to Council that:

(1)       In order to close the existing funding gap, the Council approve an amendment to the Capital Programme and increase the total Southsea Coastal Flood Defence budget to £131m to be funded by additional Environment Agency Grant of £24m and, if required, Corporate Capital Resources of £17m.

(2)       That delegated responsibility be given to the Director of Regeneration and the S.151 Officer to investigate alternative funding sources between now and when this additional funding in recommendation 1 is actually required in order to mitigate the potential reduction in the Corporate Capital Resources available for future Capital Investment elsewhere across the City should the £17m be required and to amend the Capital Programme as necessary. 

(As a referral to Council this is not subject to call-in)