Issue - meetings

 Report by the Corporate Director, Dr Carlton Brand.

Councillor Chuck Berry presented the report which brought to members’ attention unexpected additional requirements which have emerged in the course of delivery, and soughtapproval to allocate additional budget for the completion of the construction of the asset and early operational costs, which will be recovered by the council using the mechanisms described in the report.

Resolved

To agree to the allocation of an additional £0.5 m capital budget for completion of the build programme and £0.285m revenue to cover the operational running costs and capital financing costs until the scheme is fully operational and can cover its costs.

To delegate authority to the Associate Director, Economic Development and Planning, in consultation with the Leader of the Council, and the Cabinet Member for Economic Development and Housing, and Associate Director of Finance to bring the project to build and open the first phase of Porton Science Park to completion, within the tolerances and parameters set out in this report

Reason for decision:

To achieve delivery of the Porton Science Park project, by ensuring the successful completion and hand over of the first phase of the development.

To ensure the successful transition of existing Tetricus tenants into the Incubation Centre