Agenda item

(a)  That the expenditure made to date from the Community Investment Fund 2017/18 be noted;

(b)  That any unused funding from 2017/18 be rolled-forward into 2018/19 and allocated on the basis of Cabinet requests in line with the scheme including projects to improve the primary shopping areas of the High Street (£150k), Farnham Road (£60k) and Langley (£60k);

(c)  That the Community Investment Fund 2018/19 allocations and methodology be agreed.

The Director of Finance & Resources introduced a report that updated the Cabinet on the Community Investment Fund projects in 2017/18 and proposals on how the scheme would operate in 2018/19.

A total of £0.71m of the £1.05m had been allocated on a range of initiatives across the borough that had been proposed by ward members.  These included green gyms, parking and highway improvements and local environmental projects.  The unused allocation at year end, currently £0.34m, would be utilised by the Cabinet to fund any additional Council-wide improvements.  The Leader proposed, and the Cabinet agreed, that the majority of the remaining fund be allocated to improvements to the main shopping areas in Slough (High Street, Farnham Road and Langley).

The Council had already agreed a capital budget of £1.05m and £0.42m of revenue in 2018/19.  Each councillor would have £20,000 capital funding and £5,000 revenue next year with £0.21m capital and £0.21m revenue to be allocated by the Cabinet.  There would be three funding rounds and new guidance and procedures were proposed for the use of funds.  The Cabinet welcomed the proposed measures to improve the process and agreed the specific criteria as at Appendix B to the report.

At the conclusion of the discussion, the Cabinet noted the update on the projects funded in 2017/18; agreed the approach to use any unallocated funding from the current year; and approved the guidance and procedure for the operation of the fund in 2018/19.

Resolved –

(a)  That the expenditure made to date from the Community Investment Fund 2017/18 be noted;

(b)  That any unused funding from 2017/18 be rolled-forward into 2018/19 and allocated on the basis of Cabinet requests in line with the scheme including projects to improve the primary shopping areas of the High Street (£150k), Farnham Road (£60k) and Langley (£60k);

(c)  That the Community Investment Fund 2018/19 allocations and methodology be agreed.