Issue - meetings

A draft Capital and Investment Strategy for the new Buckinghamshire Council is presented to the Shadow Executive for approval.

RESOLVED:  1. CONSIDER and APPROVE the Capital and Investment Strategy . 2. APPROVE the MRP Policy set out in Section 7.

Cllr Wood, Mr Ambrose, Section 151 Officer and Mr Preston, Head of Finance - Investments and Projects introduced the item and provided members with an overview of the strategy.  The strategy was developed in line with compulsory guidelines and highlighted the strategic approach to capital investment with a focus on restructure and development opportunities for the new council. 

It was highlighted that with the current climate and increases from the Public Works Loan Board (PWLB) there would be a decrease in opportunities for pure investment but the strategy considered alternative borrowing opportunities that would come into play at an appropriate time.  The following points were highlighted in response to questions raised by members:

• Alternative loan opportunities would be considered if they were of higher value than the current PLWB rate.  Available market opportunities would be low therefore this would not be a key focus in the initial stages of the new council.   The strategic approach would be regularly reviewed to explore potential opportunities.
• A sub analysis would be provided on property investments used to generate income in order to provide more insight into the property portfolio and avoid any misunderstanding from members or residents.
• There was a significant capital programme that included various projects at different stages of development and progress.  The proposed strategy would ensure that a consistent approach was used going forwards into the new council. 
• Sustainability targets were included in the strategy.
• Different projects received funding from different sources.  Therefore certain projects would need to undergo separate scrutiny processes.  The proposed governance arrangements took into account the growth board that would focus on significant regeneration schemes. 
• Members were pleased that regeneration featured in the strategy.  This would allow derelict properties to be renovated and put to good use.

RESOLVED:  Shadow Executive AGREED:

1. To CONSIDER and APPROVE the Capital and Investment Strategy.

2. To APPROVE the MRP Policy set out in Section 7.