Decision details

Cabinet considered a report requesting a contribution of £500k for a match-funding bid as part of a project to deliver gigabit speeds to approximately 3,000 premises in Staines-upon-Thames.  If successful, the bid would provide access to additional contributions of £2m (£500k match funding from EM3 and £1.5m from VX Fibre).

Alternative options considered and rejected

To not do anything.

Resolved to approve the contribution of £500k, which will enable access to an additional £2m in contributions, in order to deliver gigabit speeds to Staines-upon-Thames.

Reasons for decision

The provision of gigabit speeds to Staines-upon-Thames will put the town at the forefront of internet speeds in the country.  It will also create an ongoing revenue which will generate up to £12k a month and repay the investments made by the contributing partners over 10 years.