Decision

That the Director for Finance in consultation with the Cabinet Member for Housing and Finance approve and uplift the in-phase budget for the Westfield Tec Park project by £746,973 to a new total of £3,340,000, to carry out additional enabling works and protect the project schedule. This is to be funded from the ringfenced Local Regeneration Fund capital grant and represents an accelerated cost, rather than additional total project budget.

Reasons for the decision

All projects were reviewed and deemed to be strategically advantageous and satisfactorily compliant in terms of their feasibility and levels of risk to enable them to progress.

Alternative options considered

The projects could be put on hold or cancelled and the grant funding received for them could be returned to central government.