Decision details

AGRED that Cabinet:

a)      note the report, including the updates associated with the LUF 3 Programme;

Ollerton Project

b)      approves a capital budget of £500,000, financed initially by borrowing, to be replaced by the LUF 3 grant when received, to enable essential project development works associated with the Ollerton scheme, prior to the Council receiving a Memorandum of Understanding, as detailed in section 1.6 of the report;

Clipstone Project

c)      approves a capital budget of £200,000, financed by borrowing initially, to be replaced by LUF 3 grant when received, to enable essential project development associated with the Clipstone scheme (Phases 2 and 3), prior to the Council receiving a Memorandum of Understanding, as detailed in section 1.9 of the report;

Memorandum of Understanding (MoU)

d)      approves an amendment to the existing delegation to the S151 Officer, Deputy Chief Executive & Director of Resources and Director of Planning and Growth, to include the acceptance of apartial (or full), LUF 3 grant of up to £20m, via an MoU, as detailed in sections 1.12 and 1.13 of the report; and

e)      notes the existing and proposed financial commitments immediately eligible for repayment by MHCLG, subject to a finalised partial, or full MoU, as detailed in section 1.13 of the report.