Report of the Chamberlain.
The Committee considered a Report of the Chamberlain concerning capital funding.
RESOLVED – that the Committee approved the following:
· allocate up to £15.45m from the general reserves of City’s Cash to provide loan
funding for the Girls’ School expansion project and fees to commence the
Wanstead Ponds project.
· Note the scope of central funding sources captured within this review as set out
in paragraph 8 and confirm the principle of prioritisation to be adopted when
considering funding allocation, in the first instance considering the scheme
objectives against agreed corporate priorities, irrespective of the specific
source of central funding to be applied
· Note that the case for central support to cover loss experienced by third party
funders as a direct result of schemes being deferred or cancelled due to the
fundamental review will be considered on a case by case basis.
· Approve the details of the annual bid process set out in paragraph 19.