Decision Maker: Cabinet Member for Climate Action, Regeneration and Renters, Cabinet Member for Finance and Council Reform
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Settlement of main construction contract account
Summary of Decision
The Cabinet Member for Finance and Council Reform and the Cabinet Member for Climate Action Regeneration and Renters in consultation with the Cabinet Member for Housing Services have:
· Approved the additional £7,760,002 variance sum to the signed construction contract between the Council and Geoffrey Osborne Limited. The interim final account for the works delivered and agreed with the contractor amount to £51,250,000 (excluding VAT).
· Approved the additional spend of £8.8m against the previously approved spend set out in the FBC to complete the scheme.
· Noted the increase in budget requirement of £4.347m above existing provision which will be funded from the Affordable Housing Fund.
Reasons for Decision
The project is approaching the practical completion stage and under the construction contract, a final account statement is required to be agreed and signed between the Council and Osborne.
Publication date: 13/09/2023
Date of decision: 13/09/2023
Effective from: 21/09/2023