Issue - meetings

To note the general fund capital programme for the period 2014/15 to 2023/24 as at quarter 2 2014/15 and the housing investment programme for the period 2014/15 to 2021/22 as at quarter 2 2014/15.

To approve variations to the general fund capital programme and housing investment programme.

RESOLVED:

1.  That the general fund capital programme for the period 2014/15 to 2023/24 as at quarter 2 2014/15, as detailed in appendix A and D of the report be noted.

2.  That the housing investment programme for the period 2014/15 to 2021/22 as at quarter 2 2014/15, as detailed in Appendix B of the report be noted.

3.  That the variation to the general fund capital programme of £63m towards the £154.1m strategic transport improvements projects to be carried out by TfL at Elephant and Castle by securing funding from new developments in the area, as detailed in paragraphs 81-89 of the report be approved, and:

·  agree to make a commitment to provide fixed yearly payments to TfL totalling £63m from 2015 to 2030 as detailed in paragraph 88 and

·  agree to enter into a formal deed with TfL/GLA to give affect to this and also to agree the principle of entering into a deed with the GLA and TfL for these purposes and to delegate the completion of the legal agreement to the strategic director of finance and corporate services. 

4.  That the variation to the housing investment programme of £41.4m as reflected in paragraphs 109-116 including the redevelopment costs of Lakanal House agreed by the Housing Investment Board and described in paragraphs 111-114 of the report be approved.

5.  That the revised budget of £4.02m for the enhanced Revitalise Peckham Rye capital project and vary the general fund capital programme once the internal and external funding sources are confirmed, as explained in paragraphs 101-104 of the report be approved.

6.  That the variation to the general fund capital programme to give a capital budget allocation for Seven Islands leisure centre of £2m for on-going refurbishment works and note the recent announcement by the council on the proposals to build a new leisure centre at Canada Water, as reflected in paragraph 70 of the report be approved.

7.  That the variation to the general fund capital programme of £1m for acquisition of properties in order to progress regeneration projects and enhance the property portfolio, as described in paragraphs 90-91 of the report be approved.

8.  That the virements and funded variations (including those in recommendations 3, 4, 6 and 7 above) to the general fund and housing investment capital programme as detailed in Appendix C of the report be approved.

9.  That the re-profiling of the projected expenditure for 2014/15 and future years for both the general fund and housing investment programmes as detailed in Appendix A, B and D of the report be approved, and the resources available for the capital programme based on latest information available at quarter 2 2014/15, and also that a further detailed profiling of expected expenditure will be undertaken at quarter 3 be noted.

10.  That the recent internal audit report and the enhanced monitoring required as described in paragraphs 140-143 of the report be noted.