Purpose

Present options for attracting private finance
to fund nature restoration and biodiversity enhancements within
BCP.

Content

RESOLVED
that Cabinet: -

(a)          
approves the principle of creating a mechanism to enable BCP
Council to sell BNG units from Council owned land (preferred option
of the 3 options detailed in the cabinet report);

(b)          
approves the use of up to £400,000, with a flexible
drawdown arrangement, of Community Infrastructure Levy (CIL) to the
Environment service to make biodiversity enhancements to
Council-owned sites in advance of the sale of units; and

(c)          
approves that this project ‘Financing Nature’ be
brought back to Cabinet as soon as practical but within 9 months,
with a detailed implementation plan.
Voting: Unanimous
Portfolio Holder: Climate Response,
Environment and Energy
Reason
The Financing
Nature working group are exploring options for developing a
mechanism to attract funding to enhance BCP Council’s green
infrastructure for the benefit of people and nature. This exciting
and innovative project, which is supported by several national
organisations such as Natural England and the National Trust, would
put BCP Council at the forefront of nature restoration in England.
It would also support an efficient and impactful BNG policy in line
with national requirements and the forthcoming BCP Local Plan.
The
purpose is to ensure that development mitigation be directed to
strategic sites for greatest benefit and, as the mitigation will be
delivered in advance of impact, provide a cost-effective offer to
developers to meet BNG obligations with maximum benefit for BCP
Council. It also:

·      
Provides an opportunity for BCP Council to direct
the development of the emerging BNG market across the planning
policy area.

·      
Supports the delivery of BCP Council’s
corporate strategy, the growth of the local green economy, and
improved access to high-quality natural assets.

·      
Supports the aims and principles of the adopted
Green Infrastructure and Urban Forest strategies.

·      
Serves as a proof of concept for a new mechanism
that can sustainably fund the long-term creation, restoration, and
management of habitats.
Doing nothing
presents significant risk to BCP’s natural environment,
ecosystems and communities and missed income for green space
improvements. It also presents a significant risk for housing
delivery in the region, especially affordable housing. This would
mean that BCP’s green net would not deliver the benefits it
has the potential to deliver for the people of BCP. Along with
this, the condition of BCP’s green spaces would likely
continue to erode and cause a greater maintenance and financial
burden on already stretched services and revenue budgets.
Additionally, it might also impact on the ability and cost
associated with the Council seeking to develop its own sites, where
it’s not possible to deliver onsite BNG.