Decision details

To seek endorsement for the Infrastructure Funding Strategy for Welborne, prepared by the Council’s consultants (GVA Financial Consulting) and to agree an update to the Council’s position statement on Infrastructure Funding.

The Welborne Infrastructure Funding Strategy (IFS) forms an important part of the Council’s strategy for ensuring the successful delivery of the new community; when combined with the outcomes of work completed to prepare an Infrastructure Delivery Plan and economic viability appraisal it will help demonstrate the deliverability of the proposal.

Building on the Outline IFS completed in Mach 2013, the Council’s consultants have prepared an IFS that includes a range of options available to the Council, the prospective developers and other parties to support the delivery of infrastructure for Welborne.  The report includes modelling of the impact of some of these options on scheme viability and recommendations on which options should (or could) be progressed further as the details of the development emerge (at which stage it may be necessary to update this IFS).  The IFS is now recommended to the Executive for approval, to be published to support the evidence base previously submitted to support the Welborne Plan at Examination. 

At the agreement of the Executive Leader, comments on the Welborne Infrastructure Funding Strategy were received on behalf of the site promoters and were taken into account in determining this item and an additional recommendation was received (as appended to these minutes).

At the invitation of the Executive Leader, Councillor Mrs K K Trott addressed the Executive on this item.

RESOLVED that the Executive:

(a)          notes the Infrastructure Funding Strategy report attached at Appendix A to the report and agrees that it be published to support the Council’s overall strategy for the delivery of Welborne;

(b)          agrees the update to the Council’s position statement on infrastructure funding for Welborne attached at the Appendix B to this report; and

(c)          that the Director of Finance and Resources, after consultation with the Executive Member for Policy and Resources and the Director of Planning and Development, be authorised to make any appropriate amendments to Infrastructure Funding Strategy Position Statement Update, prior to publication, provided that these do not change the overall direction, shape or emphasis of the document, and do not raise any significant new issues.