Decision

That

1. A supplementary capital estimate of £6.2m be approved to cover construction price inflation since September 2023 when the scheme was originally added to the Capital Programme at an estimate of £25.5m, and to cover an increased contingency allowance, noting that even with this increase the savings to the Council are improved.
2. The revised financing of the scheme as set out in paragraph 6.4 of the report be approved.
3. The further recommendations in relation to the award of the works contract set out in Part 2 be noted.
4. The tenure change of Block 02 in the scheme to affordable housing be approved.
5. It be noted that this scheme will be progressed subject to a Secretary of State Direction to either (a) hold the properties outside of the Housing Revenue Account (HRA) or (b) by Secretary of State’s Direction to allow the transfer of an appropriate sum from the General Fund to the HRA as set out in Paragraph 6.6 of the report.