Decision details

1.      That, subject to confirmation of windfall receipts from the 100% Business Rates Retention Pilot, £500,000 be allocated to form a new Borough Growth Reserve.

2.      That, subject to the successful completion of the required business case and reimbursement of expenditure from grant funding, £100,000 of the A40 Innsworth Gateway Reserve be reallocated to the Borough Growth Reserve.

3.      That any expenditure in excess of £50,000, or of abnormal risk, is undertaken by the Chief Executive in consultation with the relevant Member Panel.