New Capital Project Approval Request

Directorate:

Economy, Environment & Culture

Unit:

Property Services

Project Title:

Replacement Lift at New England House

Total Project Cost (All Years) £:

£180,000

Purpose, Benefits & Risks:

Replacement lift at New England House.  The contract for the lift replacement and refurbishment was initially for 4 years but was extended to 6 because of unforeseen delays.  Lift no.4 is the last lift to be replaced/refurbed as part of the contract. This is the largest lift and the costs are £180,000. The lift is required as part of the requirements for tenants and to ensure the continued success of supporting business within the city.

Capital Expenditure Profile (£’000):

Funding Source (see guidance below)

2021/22

2022/23

2023/24

2024/25

2025/26

Total All Years

Direct Revenue Funding

90

0

0

0

0

90

Capital Reserves

90

0

0

0

0

90

Total Estimated Costs & Fees

180

0

0

0

0

180

Financial Implications:

A contribution will be made through Property Services revenue budget which will be charged to tenants through the Service Charge. The high cost of this investment requires match funding from Capital Reserves which will be reimbursed by future year’s Service Charges to tenants.

New Capital Project Approval Request

Directorate:

Environment

Unit:

Cityparks

Project Title:

Street Tree Planting (part of Pocket Parks)

Total Project Cost (All Years) £:

£200,000

Purpose, Benefits & Risks:

Plant Street Trees across the city with an emphasis on the removal of stumps and replacement with trees. The money will be used to try and attract further external funding for street tree planting.  Street trees provide environmental improvements including trapping pollution, helping with carbon capture and providing a habitat for wildlife. The pocket park funding is a member led initiative agreed by full council. It is anticipated that with the high numbers of stumps around the city sites can be found for these trees that are not controversial.

Capital Expenditure Profile (£’000):

Funding Source (see guidance below)

2021/22

2022/23

2023/24

2024/25

2025/26

Total All Years

Capital Borrowing

200

0

0

0

0

200

Total Estimated Costs & Fees

200

0

0

0

0

200

Financial Implications:

The funding is part of the Pocket Parks and Street Trees £0.350m investment approved at February Budget Council as part of the Council’s Capital Investment Programme. The remainder of the funding will form part of the Local Transport Plan and reported at a later date. The funding is met through borrowing with the financing costs incorporated into the council’s corporate budget strategy.

New Capital Project Approval Request

Directorate:

Economy, Environment & Culture

Unit:

Tourism & Venues

Project Title:

Brighton Centre Digital Signage

Total Project Cost (All Years) £:

£51,316

Purpose, Benefits & Risks:

The Brighton Centre applied for and was awarded a Culture Recovery Fund Grant to assist with the reopening of the Venue post COVID.  The Venue realised that adapting to constantly changing measures and mitigation meant that printed signage for public health or direction messaging was wasteful and non-sustainable both environmentally and financially. Using the grant to purchase digital signage allows it to adapt its customer messaging in an ever-changing environment and ensure the venue remains COVID-19 safe when it reopens.

Capital Expenditure Profile (£’000):

Funding Source (see guidance below)

2021/22

2022/23

2023/24

2024/25

2025/26

Total All Years

Arts Council (CRF Grant)

51

0

0

0

0

51

Total Estimated Costs & Fees

51

0

0

0

0

51

Financial Implications:

The scheme will be financed through Culture Recovery Fund Grant through the Arts Council.

New Capital Project Approval Request

Directorate:

Families, Children and Learning

Unit:

Schools

Project Title:

Stanford Junior School windows replacement.

Total Project Cost (All Years) £:

£200,000

Purpose, Benefits & Risks:

The capital scheme will upgrade poor quality old windows with newer, higher quality ones. The enhancement will substantially lengthen the useful life of the asset. The project will be financed through borrowing which the school will meet from its annual revenue budget allocation. The loan agreement will contain a clause protecting the repayments in the event that the school were to convert to an academy before the loan had been fully repaid.

Capital Expenditure Profile (£’000):

Funding Source (see guidance below)

2021/22

2022/23

2023/24

2024/25

2025/26

Total All Years

Borrowing

80

120

0

0

0

200

Total Estimated Costs & Fees

80

120

0

0

0

200

Financial Implications:

The total estimated cost of the enhancements is £200,000 but the work is likely to be undertaken in stages. The school will submit invoices as and when work is undertaken and draw down the value of the completed works only. Stanford Junior School had originally hoped to be able to use DFC combined with revenue contributions to capital to fund these works, but COVID 19 has affected their carry forward revenue balance. The school has submitted a balanced budget plan and has included the costs of the estimated repayments in that plan.