Content

9.1

This report set
out the key priority areas for capital investment for Economic
Development and Skills and provided an overview of potential
projects and priorities for the years 2024 to 2029, together with
an overview of anticipated developments and challenges up to 2052.
The Committee was asked to endorse the general approach to inform
the Council’s overarching Capital Strategy (which would be
brought to Full Council for approval in March 2024).

 

 

9.2

RESOLVED: That the Economic
Development and Skills Policy Committee:-
 
1. Endorse the proposals set out in
this report.
2. Note that the proposals will now
be included in the draft Capital Strategy to be submitted to Full
Council for approval in March 2024 and, if approved:

a)   
Officers will work with Members to consult with relevant
stakeholders (including with partners, staff, trades unions [if
required] and in respect of equalities and climate change) on the
proposals in this report to inform final project proposals;

b)   
Officers will work to develop any necessary detailed implementation
plans for the proposals in this report so that the proposals can be
implemented as planned; and

c)   
Approval for detailed proposals will be sought as part of the
monthly capital approval cycle by the Finance Committee
 

 

(NOTE: The result of the vote was FOR –
8 Members; AGAINST – 0 Members; ABSTENTIONS – 1
Member)
 

9.3

Reasons for Decision

 

 

9.3.1

Members were asked to note the
unsustainable financial position highlighted by the medium-term
financial analysis presented to Strategy and Resources Committee in
September 2023.

9.3.2

This report and its recommendations
set out how capital projects can continue to be developed and
delivered, despite the limited resources available and continue to
deliver quality infrastructure for the people of Sheffield.

 

 

9.4

Alternatives Considered and
Rejected

 

 

9.4.1

The Council is
required to both set a balanced budget and to ensure that in-year
income and expenditure are balanced. Committee is invited to
comment upon and endorse the current proposals to form part of the
Council’s wider Capital Strategy for 2024/25