Decision details

Decision Taken

The Director, Strategy & Support Services, following a consultative meeting of the District Executive on 1^st July 2021, made the following decision;

Recommend that Council approve an increase of the Yeovil Refresh net budget of £2,604,168, an increase in long term borrowing of £2,604,168 to fund the project, and an increase to the gross budget by £367k from the current approved budget.

Recommend that Council note that a future Council meeting will consider the Business Case for establishing a cooperative working space at Yeovil, and that in the worst case scenario the Council may need to increase its long term borrowing to £4,529,168m in total.

Reason

To outline the current position relating to delivery of the Yeovil Refresh and the additional funding to be unlocked if SSDC wish to fully benefit from the successful Future High Streets Fund (FHSF) bid.