RECOMMENDATION TO FULL COUNCIL ON 30TH MARCH, 2017
Minutes:
RECOMMENDED TO FULL COUNCIL ON 30TH MARCH, 2017:-
(i) that the robust option appraisal work that has been carried out on Phase 2 of the Better Barnsley Scheme, as detailed in the report now submitted, be noted;
(ii) that the proposal to fund the development of Phase 2 with a total estimated cost of £70.1m be agreed, with the exact funding method to be agreed prior to awarding the main works contract at which time more concrete cost and income projections will be available;
(iii) that approval be given to a procurement exercise for a main works contractor for Phase 2 of the Better Barnsley Scheme with contractor appointment being subject to a further Cabinet report;
(iv) that approval be given to a procurement exercise for further development management services for Phase 2 of the Better Barnsley Scheme with contractor appointment being subject to a further Cabinet report;
(v) that approval be given to the procurement of additional design services for Phase 2 of the Better Barnsley Scheme with contractor appointment being subject to a further Cabinet report;
(vi) that approval be given to the use of £0.2m of the £14m earmarked for the Better Barnsley Phase 2 Development to fund the cost of the procurement exercises highlighted above together with earmarking an additional £4.2m to fund the estimated early year’s annual operating costs prior to development becoming fully operational. The remaining £9.6m to be held as a contingency to ensure as far as is possible that no revenue budgetary impact arises as a result of progressing the scheme;
(vii) that the recently approved Treasury Management Strategy and Prudential Indicators be updated to reflect the investment required within the Better Barnsley Phase 2 Scheme as highlighted in Section 7 and attached at Appendix C; and
(viii) that a variation to the Council’s Minimum Reserve Provision statement be approved in respect of the Better Barnsley Phase 2 Scheme to allow debt for that Scheme to be repaid over a 25 year repayment period.
(Note: In accordance with Part 2, Paragraph 5(6) of the Local Authorities (Executive Arrangements) (Meetings and Access to Information) (England) Regulations 2012, the Chair of the Overview and Scrutiny Committee had given approval for the above item to be considered at a private meeting of Cabinet where it had not been possible to give 28 days’ notice).