Purpose

This report seeks the endorsement of the Outline Business Case for the Wansbeck Square Gateway project in Ashington and confirms the funding requirement for the Portland Park Cinema and Restaurants project at Full Business Case stage, in accordance with the Local Assurance Framework.

Decision

RESOLVED that:-

In relation to NCC as the Accountable Body for the MHCLG funding (Local Regeneration Fund) and North East Combined Authority investment funding for Wansbeck Square Gateway:???

1)    OBC Approval and Delegated Authority for FBC Approval – Cabinet approve the Outline Business Case for the Wansbeck Square Gateway Project and delegate authority to the Executive Director of Place and Regeneration to approve the Full Business Case, in accordance with the Economic Development & Growth Local Assurance Framework. This follows consideration and recommendation of the Full Business Case by the Programme Board;

2)    Funding Approval – Cabinet approve a total budget for inclusion in the Capital Programme of £7,017,306 as set out in Table 2 from the Ashington Town Centre Renewal of Strategic Sites Programme budget and delegate any subsequent capital adjustments required at Full Business Case stage to the S151 Officer in consultation with the Executive Director for Place and Regeneration up to a value of £500k, as being within budget and as set out in the Council’s Constitution, Part 10, Section 4.4;

3)    Cabinet delegate approvals to the Executive Director of Place and Regeneration to execute all contracts relating to the project subject to confirmation of associated funding being in place, as shown in Table 2A, and the appropriate procurement processes being followed;

In relation to NCC as the Accountable Body for the MHCLG funding (Local Regeneration Fund) for Portland Park Cinema and Restaurants Project: 

4)    Funding approval – Cabinet approve an additional allocation of £745,747 from the 2027-28 Ashington Town Centre Renewal of Strategic Sites budget to meet the costs confirmed at Full Business Case as set out in Table 3B.??This follows consideration and recommendation of the Full Business Case by the Economic Development and Growth Programme Board; and

5)    Cabinet approve an amendment to the Capital Programme to create specific project budgets with the profile set out in Table 2A for Wansbeck Square Gateway and Table 2B for Portland Park Cinema and Restaurants from the Ashington Town Centre Renewal of Strategic Sites Budget.