The purpose of this report is to update Members on progress with the Daedalus Investment project.
In July 2013, the Executive supported a proposal to develop an Innovation Centre for new start up businesses at the Solent Enterprise Zone, undertake improvements to the airfield and develop new hangar space. In October 2013, the Executive agreed revised funding arrangements for the project and in November 2013 agreed a governance and decision making structure and the establishment of a Member Working Group to oversee the project.
The project contained some very challenging timescales, principally the requirement to complete the Innovation Centre by the end of March 2015. This aspect of the project is progressing extremely well. A final design has been agreed and a planning application has been submitted. It is proposed to make a start on site on 27 May 2014 with a view to completion during March 2015.
In order to minimise disruption to planned airfield activities during the summer months it is now proposed to commence the improvements to the runway during September 2014 and complete them by the end of November 2014. The specification for the works is intended to achieve a CAA licence for the airfield, enabling it to enhance its commercial potential.
Work has been ongoing with the Homes and Communities Agency (HCA) to identify a suitable location within Hangars West for the new hangar space. The exact nature of the design of the hangar and the procurement process is currently under discussion with a view to completing the project during the early summer of 2015.
Decision type: Non-key
Decision status: Recommendations Approved
Decision due: 3 Mar 2014 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Director of Finance & Resources
Contact: Andrew Wannell, Deputy Chief Executive Email: email@example.com Tel: 01329 824620.