Purpose

The capital programme and strategy 2024 – 2027 sets out the capital investment for the
benefit of the community and how this is funded.

Decision

That the Executive endorses and recommends to Council for approval:

1)    the Capital Strategy for 2024 - 2027 - Appendix A;

2)    the three-year capital programme for 2024 - 2027 – Appendix B noting that approval is sought for 2024/25 schemes only;

3)    the draft vision for capital investment over the next five years - Appendix C;

4)    the use of developer contribution funding (s106 and CIL) for capital projects as set out in Appendix D. Approval is sought up to the project budget;

5)    the Deputy Chief Executive (S151 Officer) will exercise, where possible the flexible use of capital receipts policy, as issued by the Secretary of State under section 15(1)(a) of the Local Government Act 2003;

6)    approve delegation for the delivery (including awarding and signing of the contract) of the South Wokingham Distributor Road to the Deputy Chief Executive and Director of Place & Growth in agreement with Lead member for Finance and Lead Member for Highways subject to the scheme being fully funded from Homes England Grant and Developer Contributions.