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Decision:
Vire the sum of £180,625 from the Capital Contingency Fund
to the Midleton Industrial Estate Redevelopment budget in order
that the project can be closed.
Reason(s):

1.    
The reason for the recommendation is to balance and
close the project budget at the completion of the scheme. The
additional funding is required to close the budget due to existing
overspend now that final account has been settled. 

2.    
As this project was the fourth and final phase of a
wider redevelopment of the Midleton Industrial Estate, there was
insufficient contingency remaining within the approved budget to
absorb the additional cost.
Other options considered and rejected by the
Executive:
Option 1, not to vire the funds.
Details of any conflict of interest declared by the Leader or
lead councillors and any dispensation granted:
None.