To seek approval for the revised finances and business case for the  "Shell Store" project: an extensive refurbishment and conversion of the redundant Shell Store building within the Hereford enterprise zone, to create a business incubation and research facility that will support business growth and job creation. Additional approval to let a contract for the construction of the centre is also sought.

The key revisions to the project include:

"           To increase the project budget by £818,000 to a total of £7.316m;

"           The increased budget reflects the high construction inflation experienced since the previous approval and an increase in the contingency to a more appropriate sum;

"           The project has been delayed due to the time required to secure the external funding package, specifically securing ERDF and LEP funding.