Decision

That Cabinet recommends to Council:

 

1.         That
Council notes the revenue outturn position and approves the
transfer of the £0.678m end of year surplus as
follows:

 

·        
£400k transferred to an earmarked capital
reserve to assist with delivery of the Capital Investment
Programme.

·        
The balance transferred to the Comprehensive
Spending Review (CSR) reserve and used to fund one off activities
to accelerate the delivery of Operation Brighter Bay

 

2.         That
Council approve the addition of the Paignton and Preston coastal
defence project, into the Capital Investment Plan at a value of
£17.515m, subject to:

 

a)      securing the required
funding from the Environmental Agency (£9.441m),
and

 

b)      production of a compliant
Full Business Case being discussed and supported at Capital Growth
Board and approval from Cabinet (Outline Business Case attached as
Appendix 4).

 

3.         That
delegated authority be given to the Divisional Director of Economy,
Environment and Infrastructure in consultation with the Section 151
officer and Portfolio Holder for Finance and Housing to award the
contract of works for the delivery of the Paignton and Preston
coastal defence project. 

 

4.        
Following receipt of £20m grant funding from the round 3 of
Levelling Up Funds (LUF3) approval is given for feasibility funding
to progress the following projects to the next stage:

 

4.1 Brixham port infrastructure project. Initial allocation of
£75k to be drawn down for feasibility works.

 

4.2 Paignton tec park project - Initial allocation of £85k to
be drawn down for feasibility works.