Agenda item

The Executive RECOMMENDED to Full Council that Capital Strategy, as set out at Annex A to the agenda report, be agreed.

The Executive received a report which set out how the Council intended to manage its £13m of investments, £174m of borrowing and £171m of investment property together with approval for the 2021/22 capital programme of £1.241m (as amended in Minute No 100/E above).

Members were reminded that the Council had acquired property to generate an income to maintain services and to assist with the regeneration of Camberley Town Centre and its economic vitality.

It was noted that currently property investment had been restricted to within the borough boundary or close to, as this not only generated an income but also fulfilled the aim of supporting the economy of the borough by maintaining employment sites in line with Government guidance. However the number of properties available for investment in this area were limited and so the Council might need to look further afield in order to address the Council’s financial pressures.

RECOMMENDED to Full Council that Capital Strategy, as set out at Annex A to the agenda report, be agreed.