Lead Member - Councillor Gwilym Butler - Portfolio Holder for Finance and Corporate Resources

Report of James Walton, Executive Director of Resources

Report to follow

RESOLVED:

3.1 To approve the updated priority and aspirational capital scheme schedules for inclusion in the draft Capital Strategy, ahead of wider Member engagement.
3.2. To approve progression of the schemes detailed in the priority capital scheme schedule to business case to develop and assure the associated costs and funding proposed.
3.3. To recommend to Council the approval of additional funding of £2.228m in relation to the Multi Agency Hub and the Pride Hill capital schemes which form part of the Shrewsbury Town Centre Redevelopment Programme.

3.4. To recommend to Council the approval of additional match funding of £0.647m in relation to the Council’s LUF Round 2 grant award which requires total match funding of £5.043m, £4.396m of which has been previously secured / approved.

3.5. To note the considerations raised in respect of the future direction of the North West Relief Road (NWRR) and the Oxon Link Road (OLR) detailed at section 9.

The Portfolio Holder for Finance and Corporate Resources introduced the report, explaining that a mid-term capital strategy had been brought forward for the first time to allow all members to be engaged in the development of opportunities across the county.  This would facilitate any requests for reassessment through the task and finish group where it would be possible to see the implications to revenue of alternatives.  He said that maintenance of a Capital Strategy and associated costs within revenue budgets would be stringently monitored moving forward in relation to cost of delivery and borrowing if required. 

The Portfolio Holder and Leader went on to answer questions in relation to appendix C of the Strategy - Amendments to Priority Scheme Schedules, including: the Target Operating Model - Shirehall refurbishment; plans for Shrewsbury Town Centre and a move of a civic hub from Shirehall to Riverside as part of the redevelopment; the North West Relief Road; and LEP funding connected to the Oxon Link Road.  

Responding to comments, the Portfolio Holder emphasised that the purchase of the Shrewsbury shopping centres had been about place shaping and the long term vision and future of Shrewsbury, not short term income benefit.  The planned town centre redevelopment had generated a significant amount of external interest as well as government investment, would enhance a thriving county town which would in turn, help the rest of the county to flourish.  A new civic hub would be designed for multiple use and act as an anchor point, not just functioning as a hub for Shropshire Council, but other organisations as well. 

The Portfolio Holder said he looked forward to further discussion at the Scrutiny Task and Finish Group. 

RESOLVED:

3.1 To approve the updated priority and aspirational capital scheme schedules for inclusion in the draft Capital Strategy, ahead of wider Member engagement.
3.2. To approve progression of the schemes detailed in the priority capital scheme schedule to business case to develop and assure the associated costs and funding proposed.
3.3. To recommend to Council the approval of additional funding of £2.228m in relation to the Multi Agency Hub and the Pride Hill capital schemes which form part of the Shrewsbury Town Centre Redevelopment Programme.

3.4. To recommend to Council the approval of additional match funding of £0.647m in relation to the Council’s LUF Round 2 grant award which requires total match funding of £5.043m, £4.396m of which has been previously secured / approved.

3.5. To note the considerations raised in respect of the future direction of the North West Relief Road (NWRR) and the Oxon Link Road (OLR) detailed at section 9.