Agenda and minutes

The decisions from the meeting held on 13 January were agreed as a correct record.

None disclosed.

·       Report HOF265 by the Strategic Director Corporate Focus and Head of Finance.

(Enclosure)

·       Report HOF264 by the Strategic Director Corporate Focus and Head of Finance.

(Enclosure)

Decision:

General Fund (Revenue)

            That Cabinet recommends part a. to c. to Council:

a.          to set a General Fund budget requirement of £13.170M for 2014/15 shown at Appendix A to report HOF265 (inclusive of special expenses)

b.          to approve a level of Council Tax for 2014/15 (no increase same level as 2013/14)

c.          to note the indicative base estimates for 2015/16 and 2016/17 as detailed in the summary at Appendix A to report HOF265;

Capital Programme

 That Cabinet recommends d. to e. to Council:

d.              to approve the General Fund Capital programme for 2014/15 to 2018/19 as detailed at Appendix C page 1 to report HOF265

e.              to approve the Capital Financing statement as detailed at Appendix C page 2 to report HOF265

Reserves and balances 

That Cabinet recommends f. to Council:

f.                To note the movements in Revenue and Capital reserves and balances as detailed in Appendix D to report HOF265.

Treasury Management and prudential indicators

That Cabinet recommends g. to Council:

g.       To approve the Treasury Management Strategy provided at Appendix E to report HOF265;

Considerations/reasons for decision:

1)              Report HOF265 from the Strategic Director Corporate Focus and the Head of Finance in relation to:

·         Budget Estimates 2014/15.

·         The Districts basic amount of Council Tax for 2014/15 and the Government’s Council Tax freeze grant enabling the Council Tax to be held at 2013/14 level.

·         Provisional settlement figures for 2015/16 announced by Government which show a continuing reduction in the amount of Revenue Support Grant that will be provided by £1.2M.

·         Reserves and Balances

·         The Capital Programme 2014/15 - 2018/19

·         Treasury Management and Investment Strategy

2)       The budget for 2014 /15 and indicative budgets for 2015/16 to 2016/17 have been drawn up to take account of the Council's various strategies, policies and the financial context, in particular:

·             The Corporate Plan – 2021 Vision

·             The Medium Term Financial Strategy (MTFS)

·             Service Strategies and Plans

·             Asset Management Strategy

·             The economic context and recent grant announcements

·             The 2013/14 forecast outturn

3)       The proposals have regard to accounting requirements and external factors affecting the budget including:

·             The Prudential Code for controlling Local Government capital.

·             The grant settlement from Government for future years.

·             The impact of the economic climate placing a higher demand on particular services in relation to social care and well being, specifically benefit advice and support and homelessness.

·             Investment Income and fees and charges.

4)       The need to keep the Medium Term Financial Strategy under review and updated following national policy announcements, in particular any further changes to funding arrangements.

5)       Confirmation from the Section151 Officer that the budget presented to the Cabinet for 2014/15 was robust in its formulation and the level of reserves were adequate for the organisation.

6)       Consultations undertaken with members of the Council’s Citizens’ Panel and the wider community via an on-line survey which were receptive to an increase in Council Tax going forward.

7)       Comments made about the clarity of descriptions within the report and the inclusion of words to add clarity.

8)       Comments  ...  view the full minutes text for item 39.

Report PD015 by the Property Development Manager.

(Enclosure)

Decision:

1) That Cabinet approves in principal the redevelopment of land and premises off St Catherine’s Road and St Peter’s Hill, Grantham as set out in report PD015 subject to securing suitable detailed Planning Permission and terms of agreement with interested parties and funding. 

2) That Cabinet recommends to Council the allocation of up to £6.1m in the capital programme over a 3 year period for delivery of the scheme of redevelopment. The composition of the scheme will be dependent upon the validity of the detailed business case and contract build cost for the scheme, which will be subject to a Key decision by Cabinet.

3) That delegate authority is given to the Strategic Director- Corporate Focus in consultation with the Portfolio holder for Grow the Economy and Economic Development  and the Portfolio Holder for Strategic Resources - Well Run Council to incur expenditure on professional fees, application fees, etc to conclude the detailed business case up to a maximum of £75k and negotiate and enter into the following transactions and agreements at the appropriate time and where necessary subject to the grant of planning permission for development and the necessary budget provision being agreed by Council:*

·       Heads of Terms with KRNS Properties Limited (KRNS) for Reel Cinema Limited.

·       Apply for detailed Planning Permissions as necessary for delivery of the scheme.

·       Agree procurement route for construction works

·       Release of 3R’s (now Reel Cinema Limited) existing ground lease. *

·       Release of existing premises and Lease on new premises for Grantham Senior Citizens Club. *

·       Development Agreement/Agreement for lease with (KRNS) for Reel Cinema. *

·       Extinguish existing Car Parking orders (St Catherine’s Road) and confirm rights.

·       Contract for construction works *

·       Lease of cinema building to KRNS.*

·       Warrantees/ guarantees etc to ensure performance of the construction works. *

·       Agreement for lettings on completed commercial units. *

Considerations/reason for decision

1)      Report PD015 by the Property Development Manager.

2)      A Non Key decision ref PD 014 had been taken to enable the design solution to be developed.

3)      The St Peter's Hill site presented an opportunity for a new leisure, entertainment and business quarter to be created in the town centre using land already in the ownership of the District Council.

4)      The relocation of Grantham Senior Citizens Club (GSCC) into a fit for purpose accommodation allowed the club to continue and thrive whilst enabling the cinema to be extended with 4 new screens to make a 6 screen multiplex cinema offer for Grantham.

5)      Comments made by the Leader about the size of the proposed project and what can be delivered subject to the budget allocation and planning permission. The proposal would be a significant asset to Grantham and the surrounding district and it had not been looked a routinely and she thanked those officers who had been involved in the project to date.

6)      Comments made by a Member about the size of the GSCC.

Other Options Considered

Comparison of alternative economic related investment options, supported by  ...  view the full minutes text for item 40.

Decisions CO39 and CO40 stand referred to Council on Monday 3rd March 2014.