Issue - meetings

The Executive Board Sub-Committee considered the attached report.

RECOMMENDED: That the capital programme be varied by the inclusion of an allocation for Third Party Funding – Landfill Tax Credit Funding in the sum of £34,200 for 2006-2007.

            The Executive Board Sub-Committee had considered a report proposing a variation of the capital programme to enable draw down of landfill tax credit grant funding of £310,764 this financial year.

            RESOLVED: That the capital programme be varied by the inclusion of an allocation for Third Party Funding – Landfill Tax Credit Funding in the sum of £34,200 for 2006-2007.

            The Sub-Committee was advised that Officers from WREN had approached the Council in April and invited bids this year in excess of their usual maximum grant of £40,000 per scheme as they did not wish to carry forward a large unallocated surplus of potential funding into the next financial year.

            Six bids were submitted to support and extend existing environmental improvement projects as any grant funding would need to be spent in 2006/2007 financial year. Five were successful, totalling £310,764. In order to access grant for each project an 11% contribution from a third party was required to offset attributable costs for WREN. Local authorities were allowed to provide the third party funding for their own projects. Therefore £34,184.04 of third party funding was required to secure the grant funding. The capital programme currently did not have an allocation for this purpose. It was therefore proposed that the current capital programme be varied for this purpose.

The projects in receipt of grant funding were listed below:

(i)         Climbing boulder at Victoria Park          £20,000;

(ii)    Russell Road kickabout and fencing          £62,500

(iii)   Wigg Island Tower Hide          £80,000

(iv)    Six Acre Lane Playground, Moore          £75,590

(v)         Halebank Recreation Ground

         and Playground          £72,674

RESOLVED: That Council be recommended that the capital programme be varied by the inclusion of an allocation for Third Party Funding – Landfill Tax Credit Funding in the sum of £34,200 for 2006-2007.