Purpose

The East of Otley development scheme was
previously awarded Housing Infrastructure Funding (HIF) to support
initial design and feasibility as well as supporting scheme
viability given the level of infrastructure required to facilitate
development.  The scheme viability has
been reassessed and the Brownfield Infrastructure and Land (BIL)
Fund has been identified as a potentially more suitable funding
approach.  A decision is therefore
required to withdraw from HIF and to enter into a new agreement
with Homes England for BIL funding.  A
decision is also required to inject the Council’s land
holdings which form part of the development into the Capital
Receipt Programme.