Decision details

A report outlining the background to the Lorn Arc Tax Incremental Financing programme and requesting approval of a start up budget to enable Project 1 – Lorn Road/Kirk Road Improvements at Dunbeg to be taken to full business case was considered.  The Oban, Lorn and the Isles Area Committee considered the matter on 25 February 2015 and recommended that the Policy and Resources Committee approve the drawdown of borrowing for this project.

Decision

The Committee –

1.    Approved the drawdown of borrowing for a total of £238,100 for the development of a Full Business Case for Lorn Arc Project 1 – Lorn Road/Kirk Road Improvements at Dunbeg noting that these resources will be held in a defined budget and managed as detailed in the Lorn Arc Programme PID.

2.    Noted the Full Business Case for Project 1 will be reported to a future Oban, Lorn and the Isles Area Committee and subsequent Policy and Resources Committee before moving to the implementation stage.

(Reference: Report by Executive Director – Development and Infrastructure Services, submitted)