Agenda item

The Cabinet Member will update the Panel on any relevant issues. Panel members may ask questions on the update provided.

The Cabinet Member for Economic Development and Resources sent his apologies and sent the following update to the Panel:

Finance

·  In the last quarter the focus has been on completing the 22/23 budget process. Council approved the budget at its meeting in February.  The main currently activity is directed towards the Q4/year end out turn with officers beginning to finalise accounts for reporting to the Cabinet. Pressures in Children’s services remain but are to some extent mitigated by reductions in Adult Services.

·  HCRG acquisition of Virgin Healthcare. Financial due diligence has been completed together with legal advice on the contract change. This is being discussed with the CCG and it has been agreed that both the Cabinet and the CCG board will consider the position towards the end of May. The ‘, Adults, Health and Well Being PDS has discussed the current position. Given the value of this contract I mention this to this panel.

·  Further funds have been allocated for welfare support by the government and the distribution of these are being worked up currently. 

·  Capital programme delivery monitoring is to be stepped up with a more rigorous monthly assessment of scheme delivery.

·  Arrangements are in hand for the reception of Ukrainian refugees. The council, will receive £10000 per individual to support refugees together with an additional top up for education. 

·  Inflationary costs in relation to energy remain a concern as does the current level of inflation in the economy which is likely to increase pressure for higher pay awards.

Economic Development 

·  The top floor of Bath Quays South has been let and is going through legal documentation. Marketing continues on other units.The Newark Works project is progressing well and is expected to be complete by the mid -summer. Once this is complete it will be possible to undertake the pedestrian bridge works on either side ahead of opening later this year.

·  Discussions continue with Legal and General in relation to Bath Quays North but members may recall that the current long stop date is 2025 for development to commence. 

·  Officers are constructing an evidence base for a new ED strategy statement expected in the autumn. 

A number of funding awards have been made on High St renewal funds and the Keynsham High St project has now completed. York St resurfacing and waterproofing is underway and anticipated to complete on time in April/May.

Work is continuing on the Somer Valley Enterprise Zone and revised proposals will be presented to the Stakeholder Group this week. 

Work continues on the Fashion Museum relocation and a briefing is arranged for Newbridge members on the proposals for the Collection centre. Options for the main museum remain under evaluation. It is proposed to establish external funding arrangements to support the museum as is the case with many cultural offers. 

Cleveland Pools is nearing completion and a soft opening is expected later this summer. 

Bath River Line phase 1 from Newbridge to Churchill bridge has approved funding and work will start this summer on the identified improvements.