Issue - meetings

To provide an update of progress on the capital scheme to provide additional industrial units at Mushroom Farm and seek approval to amend the budget for the scheme.

The Committee was updated of progress on the capital scheme to provide additional industrial units at Mushroom Farm. The LEP have indicated that, based on the projected cost of £270,000, they would be prepared to increase their contribution towards the scheme from £124,000 to £160,000 if the Council’s contribution were to increase by £15,000 from £95,000 to £110,000. As previously agreed, the cost of the Council’s contribution would be financed by borrowing. The site had been a success with businesses on a waiting list for units.

RESOLVED that the 2020/21 capital programme be amended such that the budget for additional industrial units at Mushroom Farm be increased from £219,000 to £270,000 with financing as set out in the report.