Capital investment recommendations to be considered by Full Council in July
Herefordshire Council’s Cabinet today (Thursday 28 June) recommended £12.827m for investment in local developments over the coming year. This is in addition to the £92.4m already identified in January for 2018/19. The recommendation will be considered by Full Council on 13 July 2018.
The funds have been identified following a review of the capital programme - the money the council expects to spend on key projects over the coming year/s. Of the additional £12.8m considered today for 2018/19, £6.7m is from increased grants and external funding.
Most notably, recommendation was given for the following additional investment:
£931,455 for pothole repair following the harsh winter weather (giving a total allocation of £1.253m in 2018/19)
£3.5m (£2m of which is a short-term loan) to support the development of a Cyber Security Centre by University of Wolverhampton to be based at Hereford Enterprise Zone, providing accommodation space for up to 20 cyber businesses, specialist research, training and educational facilities for businesses and organisations. The centre, which is due to be completed in 2020, would help the growth of a wide network of cyber-based businesses and institutions attracting national and international business investment.
£1.116m additional funding for Hereford Enterprise Zone ‘Shell Store’ refurbishment (£294k of which is from external contributions), to create a centre for research, start-up and scale-up engineering and technology businesses and, through the NMiTE University, provide space for students to interface with businesses.
In addition, £1.5m was recommended to support the conversion of Hillside rehabilitation centre to provide a nursing home facility for older people with complex mental health needs (such as dementia) in response to rising demand for this type of care. Work to look at the feasibility of converting Hillside for this purpose is in the very early stages, and so the funds identified are only indicative at this time.
Councillor Nigel Shaw, Cabinet Member for Finance and Corporate Services, said:
“Prior to any spending these investments will be required to provide a business case reviewed either by the whole Cabinet or Cabinet member as appropriate. This additional investment further demonstrates our commitment to the development of the county’s infrastructure, facilities and creating opportunities for jobs and growth, which will in turn contribute to an improved quality of life for Herefordshire’s residents.”