Purpose

The purpose of this report is:
1.To seek approval to transfer the open space development contributions received under S106 developer agreements to Linby Parish Council to expend on capital projects which meet the requirements of the developer agreements;
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 S106 developer contributions.

Decision

To approve:
1) the transfer of the Open Spaces Contribution (up to £59,652.67), from the Section 106 Agreement dated 7th April 2015 in relation to the Planning Permission 2014/0950 Land at Wighay Road, to Linby Parish Council 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 open space development projects to be funded by S106 developer contributions as detailed in recommendation 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 106 agreements.

Alternative options considered

Gedling Borough Council could not transfer the Section 106 Contribution to Linby 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.