Issue - meetings

Consider report by Executive Director.  (Copy attached.)

With reference to paragraph 8 of the Minute of 20 December 2018, there had been circulated copies of a report by the Executive Director on progress with the Full Business Case for the Central Borders Innovation Park Programme at Tweedbank, which was required to draw down funding from the Edinburgh and South East Scotland City Region Deal.  The report explained that within the City Region Deal, a ‘core’ of the Central Borders Innovation Park was being created, providing an opportunity to set the tone and standard of future development in the area.  This programme of work would deliver commitments made within the Borders Railway Blueprint.  A Full Business Case for the programme had been prepared for approval by the City Region Deal Joint Committee, which was required for formal approval from the Scottish Government to allow for the drawdown of funds.  The timescales involved in this process had been outlined in the previous report.  It had been agreed with the Scottish Government to submit a Full Business Case for the whole programme rather than taking an iterative approach, which would have required a Full Business Case for each of the programme’s three phases.  This approach therefore superseded that suggested in the report to Council of 28 June 2018.  Members discussed the report and generally welcomed the proposals.  The Chief Economic Development Officer answered Members’ questions and emphasised that it had always been intended that the Lowood Estate land would be mixed use not only for housing.  It was anticipated that there would be an announcement regarding the tenants for the various sites in the near future.  The importance of the success of this project being critical in assisting with the aim of extending the railway onto Hawick was highlighted.  The need to ensure that there was no duplication of effort by the various agencies was also noted.

DECISION

AGREED to:-

(a)       submit to the City Region Deal Joint Committee the Full Business Case set out in Appendix 2 to the report, as the final stage of approval to allow the Council to draw down funding of £15m for the Central Borders Innovation Park Programme from the Edinburgh and South East Scotland City Region Deal;

(b)       the drawdown of Scottish Government funding on a fixed basis of £1m per annum over 15 years and noted that there was sufficient flexibility in the delivery of the later phases of the programme to minimise the burden imposed on the Council by the cost of borrowing; and

(c)       include the budget detailed in Table 3 of the report in the 2019/20 – 2028/29 Capital Financial Plan.