Issue - meetings

The Leader of the Council to submit a report presenting the basis for a significant infrastructure funding agreement.

(1)  Cabinet SUPPORTED the principles of an infrastructure funding agreement with Leicestershire County Council and RECOMMENDED to Council that this Council enter into an Infrastructure Funding Agreement;

(2)  Cabinet RECOMMENDED to Council that delegated authority be granted to the Chief Executive, in consultation with the Leader, the Director for Governance and Regulatory Services and the Director for Corporate Services to negotiate the terms of the legal agreement with the County Council;

(3)  Cabinet RECOMMENDED to Council that delegated authority be granted to the Director for Governance and Regulatory Services to complete the associated legal documentation.

Councillor Joe Orson, the Leader of the Council introduced the report, the purpose of which was to present the basis for a significant infrastructure funding agreement.

Councillor Orson gave a summary of the report, highlighting that this issue had a huge impact for the community, both socially and economically.    The external funding contributions for the northern and eastern sections of the road had been secured and this report also set out the detailed funding for the southern section.

During Discussion the following points were noted:

·         Members thanked officers for the work they had undertaken and specifically for the advice provided on this project, which was quite technical at times.

·         The distributor road was a high priority for the Council.  Leicestershire County Council was an important partner and this was a good agreement.  Section 106 funding would enable affordable housing, educational allowances, green space and additional facilities for the community.

·         The wording at paragraph 6.4 of the report, relating to the Council contributing 50% of New Homes Bonus provided by new homes delivered as a consequence of the road, was very general and the formula and modulus underpinning this would be specific.  Approximately £4k out of the £6k new homes to be built would be subject to this principle.

·         Subject to approval, at tomorrow’s Planning Committee meeting a significant contribution of £4.5million towards the project will be realised. The northern, eastern and southern sections of the road would be delivered as one project, forward funded by Leicestershire County Council.

DECISIONS (KEY DECISION)

(1)  Cabinet SUPPORTED the principles of an infrastructure funding agreement with Leicestershire County Council and RECOMMENDED to Council that this Council enter into an Infrastructure Funding Agreement;

(2)  Cabinet RECOMMENDED to Council that delegated authority be granted to the Chief Executive, in consultation with the Leader, the Director for Governance and Regulatory Services and the Director for Corporate Services to negotiate the terms of the legal agreement with the County Council;

(3)  Cabinet RECOMMENDED to Council that delegated authority be granted to the Director for Governance and Regulatory Services to complete the associated legal documentation.

Reasons for decisions:

The proposal recognises the Council’s aspirations to facilitate sustainable growth within Melton and that significant infrastructure is required to support

delivery of the approved Local Plan.

Melton Borough Council has been a key partner in promoting and supporting the delivery of the relief road and the proposal enables the Council to make a significant financial contribution to future infrastructure costs; using the proceeds of growth, whilst protecting and ensuring the council’s future financial viability.

The proposal takes into account the financial pressure and risks on this Council’s finances and proposes an affordable solution which also demonstrates its commitment to working proactively with the County Council to achieve mutually beneficial objectives.

The Leader of the Council to submit a report presenting the basis for a significant infrastructure funding agreement.

To follow

This item was withdrawn.

This item was withdrawn.

The Leader of the Council to provide a report to Members to consider a proposal to enter an infrastructure funding agreement with Leicestershire County Council.

To Follow.

This item was withdrawn.

This item was withdrawn.

To follow.

Following a brief discussion on this item Cabinet APPROVED that the meeting should return to public session.

It was confirmed that this item would be deferred to a future meeting pending receipt of further information.