Agenda item

Housing Infrastructure Funding (HIF) Marginal Fund (Cab.15.5.2019/11)

Minutes:

RESOLVED:-

 

(i)        that the outcome of the bid submission to the Housing Infrastructure Funding (HIF) Marginal Fund and the offer of a revised grant allocation following an independent Due Diligence appraisal over summer 2018, as detailed in the report, be noted; and

 

(ii)       that BMBC Legal (working in partnership with our appointed Framework Solicitors Walker Morris) be authorised to:-

 

·         Enter into contract with Homes England to accept the funding and all associated terms and conditions.

 

·         Enter into a flow down funding agreement with Keepmoat Limited which replicates the terms and conditions of the Homes England contract.

 

·         Enter into a Development Licence with Keepmoat Limited to enable the completion of the Phase 3 infrastructure works.

 

·         Enter into a Variation to the Development Agreement with Keepmoat Limited relating to the delivery of Phase 3.

Supporting documents:

 

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