Venue: Committee Room 5, Guildhall, Swansea. View directions
Contact: Scrutiny 636292
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Disclosure of Personal and Prejudicial Interests. Minutes: · None |
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Public Questions · Questions must relate to matters on the open part of the Agenda of the meeting, and will be dealt with in a 10 minute period Minutes: · Mr Jones – asked about affordability and questioned the openness of the financial process · Councillor Rob Stewart explained that reports on finance are made public and access to the information is available at all times online and by accessing public meetings |
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Swansea Central Phase 1 Update and FPR7 PDF 106 KB · Councillor Rob Stewart – Cabinet Member for Economy and Strategy · Ben Smith - Head of Financial Services & Service Centre Additional documents:
Minutes: · Report makes clear some of the financial implications · Report indicated was affordable but members would have some difficult decisions on future budgets · Degree of public sector subsidy needed · Risks are known and manageable · There will be opportunity for scrutiny as the process goes along · Hoping City Deal business case to be signed off early December with money to then flow · Money goes to regional office (Carmarthenshire) then to approved projects · Rigid procedures in place to maintain quality and timescales including the Beyond Bricks and Mortar framework · Some comparisons with larger cities are unfair as population sizes and GVA are very different · City Deal is a catalyst - creating future projects and opportunities · More students in the City Centre relieves surrounding areas from HMOs · Some private accommodation planned to help drive restaurants and shops · Biodiversity and green infrastructure are very important aspects of the development · New bridge more suitable and DDA compliant · Aim is to close the gap on regional financial performance · Difficulty if the arena doesn’t make a profit – large financial risk · Capital financing charges will increase but looking to limit the impact on frontline services · Questions over affordability |
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Swansea Central Phase 1 Update and FPR7 · Councillor Rob Stewart – Cabinet Member for Economy and Strategy · Ben Smith - Head of Financial Services & Service Centre Minutes: · Exempt items discussed |
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