i)       that the overall project budget and Future Highstreet allocation for the Station Square project be reduced by £1,973,575 resulting in a new total budget of £973,283 required to fund the works to date.

ii)      that the overall project budget and Future Highstreet allocation for the Torbay Road project be uplifted by £113,363 resulting in a new total budget of £381,525 required to deliver the street scene enhancements.

iii)    that the Future Highstreet allocation for the Crossways project be increased by £1,860,212 resulting in a new total FHSF allocation of £4,626,109 to ensure compliant spend the grant.

Following the pausing of the Torbay Road project, which has been withdrawn in favour of a larger scheme to be delivered at a later date, an underspend has subsequently arisen within the approved FHSF programme allocations.

A detailed review of all eligible project budgets within the FHSF programme has been undertaken. In view of the grant funding deadline of 31 March 2026, and to ensure full and compliant utilisation of the remaining allocation, it is agreed that the identified underspend be reallocated to the Crossways project.

The Crossways project is confirmed as an eligible scheme capable of absorbing the funding within the required timescales and delivering the intended outputs and outcomes of the FHSF programme. This reallocation maintains compliance with grant conditions and supports the achievement of the Programme’s strategic objectives.

FHSF Allocation summary

The allocations are maintained and the underspent grant is handed back to central government, resulting in a loss of investable funding for Paignton.

This decision will be implemented immediately.

Updates to the Capital Investment Plan in relation to the Future High Streets Funding (FHSF) allocation regarding the projects listed below, to ensure compliant spend within the grant spend deadline of 31 March 2026.

• Station Square
• Crossways
• Torbay Road

None