Cabinet (subject to approval from Council to make the necessary provision in the Capital Programme):
2.1 PROVIDED authority for the Borough Council to enter into a Staged
Payment Agreement with Leicestershire County Council, as summarised
in this report;
2.2 DELEGATED authority to the Chief Executive, in consultation with the
Leader, to make any final amendments to the agreement arising from any
further negotiations with the County Council;
2.3 DELEGATED authority to the Chief Executive to enter into the agreement
as soon as is practicably possible, to enable the County Council to enter
into an agreement with Homes England to secure the Housing
Infrastructure Fund grant;
That Cabinet RECOMMENDED to Council:
2.4 To note and endorse the decision taken by Cabinet to enter into a Staged
Payment Agreement with Leicestershire County Council (subject to
Council approving the necessary provision is made in the Capital
Programme);
2.5 To note that the agreement will fund a contribution by the Borough Council
towards the costs incurred by the County Council in the provision of
educational infrastructure arising from housing associated with the
construction of the MMDR South;
2.6 To approve the financial implications arising from the agreement by making
provision in the Capital Programme for a number of staged payments to
the sum of £1.75m (initially funded by borrowing and subject to indexation
as set out in the financial implications of the report).