Purpose

The purpose of this report is:
1.To seek approval to transfer the Off-Site Open Space Development Contributions received through the Section 106 Agreement dated 13th October 2014 to Ravenshead Parish Council to expend on capital projects which meet the requirements of the Section 106 Agreement;
2.To establish by virement the capital programme budgets for the delivery of Open Space Development projects by the Parish Council, to be funded by Section 106 developer contributions.

Decision

To approve:
1) the transfer of the Off-Site Open Spaces Contribution (up to £103,224.00), from the Section 106 Agreement dated 13th October 2014 in relation to the Planning Permission 2013/0836 – Land Known as Cornwater Fields Off Longdale Lane to be spent in accordance with Schedule One of the above Section 106 Agreement.
2)the establishment, by virement, of the capital programme budgets for delivery of Off-Site Open Space development projects to be funded by Section 106 developer contributions as detailed in recommendations 1.

Reasons for the decision

To ensure the transferring of funds for delivery of open space provision in line with planning obligations detailed in the above section 106 agreement.

Alternative options considered

Gedling Borough Council could not transfer the Section 106 Contribution to Ravenshead Parish Council however, if the Council does not spend the financial contributions in accordance with the obligations and timescales within the relevant agreements this could result in the contributions, including any indexation, having to be paid back to the developer.