To consider the updated/recently reviewed capital programme and make recommendations to Council regarding any proposed changes to the programme including the revenue implications (financing and MRP) of the proposed programme.

RECOMMENDED to Council

1.      That the changes to the Capital Programme 2012/13 to 2015/16, as outlined in the report at paragraphs 33 to 37, tables 3 and 4, be approved.

2.      To include in the Capital Programme a maximum of £35m to support the Bedfordshire Energy and Recycling (BeaR) Project from 2013/14 to 2015/16 as outlined in the exempt Appendix B to the report.  It is anticipated this will be funded by Prudential Borrowing, with its associated revenue implications as set out in the report.

3.      That the estimated receipts for the periods 2016/17 and 2017/18, be earmarked to repay any Prudential Borrowing undertaken in respect of the BeaR project.

4.      That the Woodside Link scheme be included in the Capital Programme from 2012/13 to 2017/18 with the consequential impact for Prudential Borrowing and associated revenue implications as set out in the report, whilst noting that officers continue working to confirm the extent of external contributions to the scheme.

RESOLVED

1.      That the forecast for capital receipts at paragraphs 48 to 50 and table 7 in the report be noted.

2.      That Officers prepare a full Capital Programme for the period of the Medium Term Financial Plan (2013-2017) as part of the budget setting process in February 2013.

3.      That the Council remains committed to regeneration of the Quadrant and will consider any investment proposal in that context.