Decision details

The Committee considered a report updating them on progress in the delivery of the Lorn Arc Tax Incremental Financing Programme and its nine capital infrastructure investment projects.

Decision

The Committee –

1.    Noted the current progress with the Lorn Arc Programme;

2.    Noted that recruitment is underway for 1 full time Lorn Arc Programme Manager, 1 full time Lorn Arc Project Manager and a Secondment opportunity for a Lorn Arc Project Manager;

3.    Approved Officers formally requesting from the Lorn Arc TIF Executive the removal of the two Barcaldine projects from the Lorn Arc Business Case but retaining the option to borrow up to £18.9m across the remaining projects or bringing forward additional projects in due course subject to approval and affordability.

4.    Approved revising the reporting Tolerance levels in line with the levels set for the Council’s monthly Capital Financial Reporting i.e. Project Plan +/- 2 months on agreed completion and Project Budget +/- 5% of agreed budget subject to a minimum of £50,000.

(Reference: Report by Executive Director – Development and Infrastructure Services dated 16 February 2016, submitted)