Decision details

Agreed:-

(1)     that the Capital Programme for Borough Economy is increased by £1,695,425 for 2022/23 to undertake the spend to save to fund Street Lighting Investment Programme and cyclical replacement of streetlighting columns;

(2)     that the Capital Programme for 2023/24 for Borough Economy is increased by £1,695,425 for 2023/24 to undertake the spend to save to fund Street Lighting Investment Programme and cyclical replacement of streetlighting columns;

(3)     that subject to the approval of 1.1 and 1.2 above the schemes are funded by Prudential Borrowing;

(4)     that the ongoing capital pressure of £275,750 per year from 2024/25 onwards is added to the Council’s capital programme;

(5)     that investment of the net budget saving from energy reduction, after prudential borrowing charges is reinvested to partially fund ongoing Highway Maintenance inflation pressures;

(6)     that the Director of Borough Economy is authorised to award the necessary street lighting contract, following a compliant competitive tender process;

(7)     that any necessary exemptions be made to the Procurement and Contract Procedure Rules to enable the course of action referred to in 1.6 to proceed;

(8)     that the Director of Law and Governance – Monitoring Officer is authorised to execute any documentation necessary to enable these recommendations;

(9)     that the recommendations are approved, subject to a satisfactory financial appraisal being completed by Strategic Finance.