RECOMMENDED TO COUNCIL: (21 December 2016)
(Decision 1. below is not subject to call-in)
That:-
1. The creation of a strategic investment fund of £5m across West Suffolk (£3.5m Forest Heath District Council and £1.5m St Edmundsbury Borough Council) funded from the strategic priorities and Medium Term Financial Strategy Reserve, with delegated authority given to Cabinet (for sums of £500,000 or more) and delegation to the Portfolio Holder for Leisure and Culture in conjunction with a Director and the Head of Resources and Performance (for sums of less than £500,000) to draw down from this fund, subject to a satisfactory business case for each investment proposal for investment in the Council’s leisure facilities.
and
RESOLVED:
That:-
2. The development of a long-term leisure partnership agreement (supported by a business plan) be approved, for consideration at a future Cabinet meeting that must address:
- The principles of the Council’s Medium Term Financial Strategy and Value for Money considerations.
- The outcomes of the Promoting Physical Activity Framework.
- The planned utilisation of the investment (established in recommendation 1. above) to achieve the reduction in the management fee payable by the Council to zero.
- The principles set out in Section 2.1 of Report No CAB/FH/16/049.
Due to the urgency of initial funding requests, the following decision has also been taken:
RESOLVED:
That:-
3. An investment of £204,000 (ex VAT) into new equipment for the Newmarket Leisure Centre from the Council’s approved capital invest to save fund to deliver a £60,000 per annum management fee saving.