To consider the recommendations of the Cabinet and a report that seeks approval for the inclusion of the scheme into the Council’s Capital Programme and to uplift the budget.

The Council considered the recommendation of the Cabinet and the submitted report to include in the Capital Programme the development at St Kilda’s for 23 new age-restricted flats for social housing and associated borrowing.

Councillor Tyerman proposed and Councillor Hutchings seconded a motion, which was agreed (unanimously) by the Council as set out below:

that the Council be recommended to:

1.    approve the inclusion of the full St Kilda’s scheme (including the addition of demolition of the former Care Home and the construction of 23 new age-restricted flats for social housing) in Torbay Council’s Capital Programme;

2.    increase the capital programme for the St Kilda’s scheme to a total sum of £5,683,164 to include costs already incurred and the costs of demolition and construction as set out in Exempt Appendix 1 to the submitted report;   and

3.    approve up to £2,667,058 of prudential borrowing funded from rent receipts, net of the costs of maintenance and management of the completed scheme.

To consider a report that seeks approval for the inclusion of the scheme into the Council’s Capital Programme and to uplift the budget.