Rangárþing eystra cuts investment plan by 253 million krónur

The municipality of Rangárþing eystra is cutting its investment plan by 253 million krónur, with several major projects cancelled or postponed, mbl.is reports.

A budget amendment approved by the municipal executive council on 1 October reduces planned investment for the year from 665.5 million to 412.5 million krónur. Borrowing is also expected to be 136.6 million krónur lower than originally planned.

Artificial turf pitch work cancelled

The municipality will not proceed with planned renewal work at Litlagerði because Veitur had not set aside funding for its share of the project. Some of the allocated money will instead go to smaller projects. Investment in road construction will fall by a total of 5 million krónur.

Spending on construction and maintenance of buildings will decrease by 148 million krónur. The planned artificial turf pitch and work on the grounds of Hvolfsskóli will not go ahead, pending further planning with the sports clubs. Funding will be added for maintenance and alterations at Austurvegur 4, as well as a needs assessment for a planned expansion of Hvolfsskóli.

Seljalandsfoss project postponed

A planned 100 million króna development project at Seljalandsfoss waterfall will be postponed because of land ownership issues.

The amendment also cancels a planned 100 million króna loan. A further loan of 36.6 million krónur will be repaid following the sale of Gilsbakki 9.