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Cambridge Northern Fringe East Funding Agreement Approval

19/12/2019 - Cambridge Northern Fringe East Funding Agreement Approval

CAMBRIDGE CITY COUNCIL

Record of Executive Decision

 

 CAMBRIDGE NORTHERN FRINGE EAST FUNDING AGREEMENT APPROVAL

 

Decision of:

Councillor Herbert, Executive Councillor for Strategy and External Partnerships

Reference:

19/URGENCY/SR/12

Date of decision:           

16.12.19

Recorded on:  17.12.19

 

Decision Type:

Key

Matter for Decision:

To approve the decision for the Council to enter into the Housing Infrastructure Fund Funding Agreement and a back to back agreement with Anglian Water.

 

To delegate final approval of relevant documentation and management of delivery of their terms  to the Strategic Director

Why the decision had to be made (and any alternative options):

 

Following detailed negotiations during 2019, the draft contracts were still unavailable for final sign-off during the Autumn Committee Cycle.

 

The spend profile and timescales required for the HIF funding require commissioning of key studies in advance of the spring environmental window. Final sign off of the development agreement has to be completed by end of 2019 in order for this commissioning to meet the relevant window. If it doesn’t key activity could be delayed by up to 6 months.

 

It is therefore critical to achieve final sign off for the funding Agreement in advance of the next committee cycle. (February 2020).

 

 

The Executive Councillor’s decision(s):

Approved

 

Reasons for the decision:

The reasons for the decision are contained in an officer’s report which is considered to be exempt from publication by virtue of paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 as amended by the Local Government (Access to Information) (Variation) Order 2006.

Scrutiny consideration:

The Chair and Spokesperson of Strategy and Resources Scrutiny Committee were consulted prior to the action being authorised.

 

Report:

A report detailing the background and financial considerations is considered to be exempt from publication by virtue of paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 as amended by the Local Government (Access to Information) (Variation) Order 2006

Conflicts of interest:

 

None

Comments:

The decision will be reported back to the Strategy and Resources Scrutiny Committee on 3 February 2020.

 

One query was raised on clarification of potential cost overrun risk. This is a potential risk where project partners may be asked to fund any cost overruns above the maximum HIF Fund available if these occur. Mitigations negotiated include:

 

-      Limitation of cost risk level and assignment of the risk to appropriate project partner

-      Rigorous planning and management and monitoring of costs at all stages

-       Claims assurance and approval by Section 151 officer

Repayment of any cost incurred through allowable costs from future development scheme