Agenda item

The Executive Board considered a report which brought together the latest proposals for the Five-Year Capital Programme (Council Fund) 2021/22 to 2025/2026, taking into account the consultation exercise undertaken and the revenue implications arising from the capital programme.

The Board noted that the capital programme proposed gross expenditure of £258m over the five year period with projected funding of £122.5m from the County Council’s own resources through the use of borrowing, capital receipts, reserves and general capital grant and the balance of £135m coming from external sources. A sum of £4m between years 4 and 5 remained unallocated for the present time and would be utilised as other cost and funding crystalised as time progressed .

The Executive Board Member advised that Appendix A to the report detailed the full programme, which was fully funded for the five years, and provided potential for further investment in years 4 and five given the yet, unallocated, £4m funds for those years

The Executive Board Member advised while many of the investments in the report were familiar including, the 21^st century schools programme, Highways, Regeneration and Housing, it had been possible to add investment to schemes considered to be important for the county to respond to the Covid-19 pandemic. Those included:-

·       Economic Regeneration – Targeted regeneration Investment (£1.2m); Commercial Property Development Fund (£1m); Rural Enterprise Fund (£500k) and £1m for the ‘Ten Towns’ growth plan enabling the authority to draw in considerable private sector investment to the county. Additionally, the £500k approved in 2020/21 for decarbonisation of the council’s estate would be repurposed for Renewal Energy Initiative Grants to business to act as a catalyst for private investment in that area and reducing the county’s carbon footprint;

·       Infrastructure – Trebeddrod Reservoir (£1m), Morfa Bacas coastal path (£300k); public lighting column replacement (£400k p.a. from 2024/25) and a £300k commitment to invest in council owned farms for 2024/24;

·       Community Services – ongoing commitment to supporting investment in culture at Oriel Myrddin and continued support for private sector housing in 2024/25 for Disabled Facilities Grants;

·       Environment Department – continued support for Highways Improvements, Bridge Maintenance and Road safety schemes into 2025/26. Council funding on Highway maintenance would continue to be bolstered in 2021/22 via the Welsh Government Road Refurbishment Grant ;

·       Council Estate –  additional funding for essential works to County Hall (£500k) and health and safety works to Ty Elwyn (£700k)

·       In addition to the recovery package in 2021/22, the Regeneration budget was supported with further additional investment in the Transformation Strategy Project Fund in 2025/26 which had the potential to attract significant external funding to match the council’s investment

UNANIMOUSLY RESOLVED TO RECOMMEND TO COUNCIL THAT:-