Decision details

RESOLVED:

KEY DECISION

That the Executive approved the following changes to the capital programme:

a)    Corby Town Investment Plan, Train Station to Town Centre - Link Road (via Oakley Road) & Smart and Connected Corby (combined) – increase capital programme for 2022/23 by £8.055m, which is to be funded from the Towns Fund Grant.

b)    Kettering Alfred East Art Gallery, Library and Museum (Cornerstone), increase budget by £0.412m, to be funded from capital reserves.

Reasons for Recommendations: These are set out in greater detail within section 5 of the report, but can be summarised as:

·         To implement phases 3 and 4 of Corby’s Town Investment Plan in relation to the £19.9m awarded from the Towns Fund in June 2021.

·         To help mitigate any delays to the Cornerstone project to meet funding deadlines and the current construction market conditions, with fluctuating prices.

Alternative Options Considered:

·         Use of the funding is in line with the agreement, there is no alternative option proposed.

·         By not approving these recommendations there would be an adverse impact on service provision and the completion of projects in North Northamptonshire.