Issue - meetings

Capital Programme 2019/20 to 2024/25

Meeting: 11/02/2020 - Full Council (Item 9.)

9. Capital Programme 2019/20 to 2024/25 pdf icon PDF 2 MB

To receive and consider the recommendations of the Cabinet meeting held on 4 February (to follow), the report for which is attached.

Additional documents:

Meeting: 04/02/2020 - Cabinet (Item 14.)

14. Capital Programme 2019/20 to 2024/25 pdf icon PDF 777 KB

The report by the Director of Finance and Section 151 Officer is forwarded to Council in 11 February for approval. The report is to:


·         Summarise the key features of the Capital Strategy approved by the City Council on 19th March 2019 "for investment in assets and for obtaining the resources required for that investment"

·         Highlight the inter-relationship between the Capital Programme, the Revenue Budget, the Medium Term Financial Strategy and Treasury Management

·         Determine the corporate capital resources available including:

-        Adjustments for under and overspendings to the existing approved Capital Programme

-       Update the capital resources available for all new and changed grants, capital receipts, revenue contributions and other contributions

-       the identification of any additional assets which the Administration wishes to declare surplus to requirements

·         Seek approval of the overall Capital Programme and "new starts" (including the Housing Investment Capital Programme) for 2020/21 and future years in accordance with the Capital Strategy

·         Describe and approve the Prudential Indicators arising from the revised Capital Programme 2019/20 to 2024/25

·         Delegate authority to the Section 151 Officer to alter the mix of capital funding to make best use of City Council resources


The 7 detailed recommendations are set out at Section 3 of the report.

Additional documents:


RECOMMENDED to Council - the detailed recommendations (as set out 3.1 1-8 and 3.2 1-5) be approved with the amended 3.1 (5) to include an additional £4.7m of Capital Investment for the "Development of Cruise and Ferry Port" to be replaced with the following wording:


5) Subject to a satisfactory financial appraisal approved by the Director of Finance and Resources & Section 151 Officer the following schemes as described in Section 10 be funded from Prudential Borrowing up to the amounts shown



Total Prudential Borrowing


Anaerobic Digestion Plant


Port - Floating Dock Jetty Dredge


Wind turbines at Port


City Centre Co-working space


Kings Theatre Regeneration


Guildhall Regeneration


Acquisition of New Council Housing


Transitional Accommodation for Homeless (Adaptations to HRA Property)


Development of Cruise and Ferry Port


Total Recommended Sum To Be Approved



Recommendation 8 in relation to the proposed Prudential Indicators was also revised and a revised Appendix 3 will be submitted to Council