Issue - meetings

(Exempt by virtue of Paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972 - Information relating to the financial or business affairs of any particular person (including the authority holding that information))

To receive the report of the Cabinet Member for Finance and Assets

            RESOLVED

(i)            That the whole project for exterior maintenance works at The Forum be approved in the sum of £543,000.

(ii)           That the sum of £160,000 of advance funding to the residential service charge reserve fund for The Forum be included in the 2019/20 budget to enable the works to be carried out in the Spring of 2019, to be recovered/funded as reported.

(iii)          That the Chief Executive be authorised to accept the tender and enter into a contract for the works, subject to the whole project expenditure being no more than £543,000.

REASONS

(i)            To enable essential maintenance works to the Forum to be undertaken.

(ii)           To avoid delaying the works and to meet the Council’s lease obligations.

(iii)          To allow residents to spread the burden of the cost of the works over three financial years.

The Cabinet Member for Finance and Assets submitted a report seeking approval for advance funding of The Forum residential service charge account in order that repair works to the exterior of the premises could be progressed in Spring 2019.  Details of the split of the cost of the works between retail, residential and the car park were submitted together with information on how the expenditure would be recovered/ funded.

The Finance and Assets Policy Development Advisory Group had been consulted and supported the proposal.

            RESOLVED

(i)            That the whole project for exterior maintenance works at The Forum be approved in the sum of £543,000.

(ii)           That the sum of £160,000 of advance funding to the residential service charge reserve fund for The Forum be included in the 2019/20 budget to enable the works to be carried out in the Spring of 2019, to be recovered/funded as reported.

(iii)          That the Chief Executive be authorised to accept the tender and enter into a contract for the works, subject to the whole project expenditure being no more than £543,000.

REASONS

(i)            To enable essential maintenance works to the Forum to be undertaken.

(ii)           To avoid delaying the works and to meet the Council’s lease obligations.

(iii)          To allow residents to spread the burden of the cost of the works over three financial years.