Agenda item

(a)  That it be noted that the projects set out in the report had been submitted by Slough Borough Council to the Thames Valley Berkshire Local Enterprise Partnership, in order to be considered for Local Growth Fund (LGF) funding;

(b)  That a number of these projects had been accepted for LGF funding, as detailed in section 5 of the report;

(c)  That schemes currently not funded be supported in principle, subject to approval by the Capital Strategy Board and Cabinet at the appropriate stage;

(d)  That the Strategic Director, Regeneration, Housing & Resources, following consultation with the Leader and Commissioner for Social & Economic Inclusion, be given delegated authority to continue dialogue with businesses and internal stakeholders and submit bids to the LEP on behalf of Slough Borough Council.

The Cabinet received a comprehensive summary of the current and historic projects submitted by the Council to the Thames Valley Berkshire Local Enterprise Partnership (LEP) for consideration for funding under the Local Growth Fund (LGF).

The schemes were focused on improving Slough’s transport networks including key strategic corridors, external links and rail stations to increase the economic attractiveness of the Borough.  Projects were at various stages of development and funding approval by both the LEP and the Council and it was noted that a number of schemes would need further financial approval at the appropriate stage.  Whilst a majority of the schemes were transport related, the Council were continuing to develop bids for other schemes such as a Conference Centre/Higher Education Facility and further bids may be possible in the future to support the Smart Cities digital agenda.

Commissioners welcomed the fact that significant external funding had been secured to improve Slough’s transport infrastructure and they agreed to continue to seek such additional investment where it would help the Council deliver its strategic objectives and priority schemes.  The Cabinet were mindful of the match funding requirements for each scheme, and particularly the potential risks if the cost of schemes rose, and emphasised the need to carefully prioritise resources and rigorously assess business cases to ensure they met the Council’s priorities.  It was confirmed that any scheme with the SBC funding element not yet approved would come back to the Cabinet, following consideration by the Capital Strategy Board, as part of the consideration of the Capital Strategy and it was agreed to reflect this in agreeing the recommendations.  The Cabinet also agreed delegate authority to the Strategy Director, Regeneration, Housing & Resources to progress future bids, following consultation with the relevant Commissioners.

Resolved –

(a)  That it be noted that the projects set out in the report had been submitted by Slough Borough Council to the Thames Valley Berkshire Local Enterprise Partnership, in order to be considered for Local Growth Fund (LGF) funding;

(b)  That a number of these projects had been accepted for LGF funding, as detailed in section 5 of the report;

(c)  That schemes currently not funded be supported in principle, subject to approval by the Capital Strategy Board and Cabinet at the appropriate stage;

(d)  That the Strategic Director, Regeneration, Housing & Resources, following consultation with the Leader and Commissioner for Social & Economic Inclusion, be given delegated authority to continue dialogue with businesses and internal stakeholders and submit bids to the LEP on behalf of Slough Borough Council.