Decision Maker: Cabinet, Council
Decision status: Recommendations approved
Is Key decision?: No
Is subject to call in?: No
The Council considered the recommendation from Cabinet seeking approval of a supplementary capital estimate for property acquisitions within the Borough of £200m for 2017/18. This would enable the Council to be able to bid for high quality investment opportunities which may arise over the coming months.
Resolved that Council:
1. approves the supplementary capital estimate for property acquisitions within the Borough of £200m for 2017/18 to support the economic development and well-being of the Borough and investment purposes;
2. agrees the revised set of prudential indicators which include increasing the operational boundary and authorised limit for external debt by £200m; and
3. re-confirms the Council’s Minimum Revenue Provision policy to ensure prudent provision is made to cover repayment of loans.
Report author: Terry Collier
Publication date: 21/12/2017
Date of decision: 14/12/2017
Decided at meeting: 14/12/2017 - Council