The Council is asked to consider the 2018/19 Capital Programme allocation to the Commercial Investment Fund.
The Cabinet received a report of the Director of Economy that recommended the 2018/19 Capital Programme allocation to the Commercial Investment Fund of £20m is brought forward into 2017/18 to supplement the existing approved allocation for 2017/18.
The reason for the recommendation was to ensure that the fund can be used to its greatest effect in fully benefiting from available opportunities and maximising the revenue savings that might be achieved.
(1) The Council approves the proposal to bring forward from the 2018/19 capital programme allocation for the Commercial Investment Fund;
(2) The Council authorises carrying forward into 2018/19 any unspent proportion of the £30 million allocation.