Content

Recommendations:

1.1. Agree the new CIL allocation
process outlined in Paragraph 3.8.

1.2. Agree that available sums
within the new Neighbourhood Improvement Fund, after allocation of
top-ups, are used to support a continuing Thriving Neighbourhoods
programme

1.3. Note the current and forecast
reduction in developer contributions until 2027/28 will delay the
commencement of a new Thriving Neighbourhoods fund and that the
alternative option of delivering a saving from a CIL funding swap
may need to be considered in the context of the Council’s
overall financial position at that point

1.4. Note that this proposal will
deliver a saving of around £66k from reduced borrowing costs
as developer contributions return to historical levels

1.5. Note that the previous
position regarding how CIL is allocated from strategic developments
on ward boundaries is to be rescinded.

1.6. Note the updated Terms of
Reference of the Borough Investment Panel at Appendix 1.

 

 

Decisions:
AGREED
recommendations.
 
Reasons for the
decision – as
detailed in the report
Other options
considered – as
detailed in the report
Conflicts of
interest / dispensations granted – none