Allocate the £7.369m of accrued and projected capital receipts, utilising the above stated funding swaps, to the following priority projects:

• £2.819m - Paignton and Preston Waterfront project (to enable the full scope of works);
• £2.900m – to the Strand regeneration project (to enhance viability);
• £1.200m – Paignton Picture House. The Council has an existing decision to underwrite cost over-run of up to £1.6m for this project with forecasted over-run now projected as £1.2m.  We will continue to negotiate repayment of this sum, over a period of several years, depending on the financial performance of the completed scheme;
• £0.200m - Oldway Mansion. In addition to the £8m of grant funding and £1m of Council contribution to date. This will complete phase 1 of the restoration works helping to protect the building from future deterioration; and
• £0.250m – Torre Abbey Chapel. Match funding for an external grant bid aiming to generate £3m for the restoration of the Abbey Chapel.