Decision details

That a capital budget of £492,000 be created in the 2021/22 financial year to fund the construction of the first phase of the Abergavenny velo park and that this is funded by:

a) Contributions from balances held by the council from the S106 Agreements relating to the Westgate (£168,160 – Finance Code N560) and Gavenny Gate (£231,840 – Finance Code N581) developments in Llanfoist.

b) A further S106 contribution of £92,000 be added to the above budget, when received, from the residential development site at Grove Farm, Llanfoist.

That the Council continues to work with other partner agencies to support a community group to form and subsequently source and apply for further capital funding from external sources that contribute to the development costs of the second and third phases of the Abergavenny Velo Park project.

That commitment of any expenditure from the above sums is subject to the submission and approval of a satisfactory management agreement with a supporting business plan for the proposed new velo park; such approval being delegated to the Cabinet Member for Resources, in consultation with the council’s S151 Officer.