Issue - meetings

Funding Agreement for Delivery of New Primary School at South West Bicester Development

 

 

Meeting: 29/01/2013 - Cabinet (Item 9)

9 South West Bicester New Primary School - Funding Agreement pdf icon PDF 98 KB

Cabinet Member: Growth & Infrastructure

Forward Plan Ref: 2012/149

Contact: Tom Flanagan, Service Manager – Planning & Transport Policy Tel: (01865) 815691

 

Report by Director for Environment & Economy (CA9).

 

The report seeks approval to authorise officers to enter into a funding agreement with the Diocese of Oxford for their direct delivery of the school construction project and enables transfer in stages of a maximum capital grant of £6.664m from S106 resources forward funded from the Council's capital programme reserve, having deducted any direct costs incurred by the County Council in supporting delivery of the project.

 

This is due to increasing pupil place pressures which lead to demand for places in advance of delivery timescales for the new primary school which would otherwise be possible if the Council awaits funding through the Section 106 agreement.

 

The Cabinet is RECOMMENDED to:

 

(a)               authorise the Director of Environment & Economy to enter into a funding agreement with the Diocese of Oxford which enables transfer in stages of a maximum capital grant of £6.664m; and

 

(b)                          transfer (in accordance with such funding agreement) funds from developer contributions forward funded from the Capital Programme reserve, having deducted any direct costs incurred by the County Council in supporting delivery of the project.

 

 

Minutes:

Cabinet considered a report that sought approval to authorise officers to enter into a funding agreement with the Diocese of Oxford for their direct delivery of the school construction project and enables transfer in stages of a maximum capital grant of £6.664m from S106 resources forward funded from the Council's capital programme reserve, having deducted any direct costs incurred by the County Council in supporting delivery of the project.

 

RESOLVED:             to:

 

(a)               authorise the Director of Environment & Economy to enter into a funding agreement with the Diocese of Oxford which enables transfer in stages of a maximum capital grant of £6.664m; and

 

(b)               transfer (in accordance with such funding agreement) funds from developer contributions forward funded from the Capital Programme reserve, having deducted any direct costs incurred by the County Council in supporting delivery of the project.