Issue - decisions

NNDA - Bridge and Road Acceptance of Grant Offer

02/09/2015 - North Northallerton Growth Deal

The subject of the decision:

 

This report provided information on the current position with the Local Growth Deal funding secured from the Local Enterprise Partnership (LEP); the current position of the North Northalleton development; the potential risks to delivery and sought approval to sign the funding agreement with the LEP.

 

Alternative options considered:

 

None.

 

The reason for the decision:

 

To ensure the viability and delivery of the project.

 

THE DECISION:

 

That Cabinet agrees to enter into the funding agreement with the LEP to secure the £6m Local Growth Deal monies for the NNDA Link Road and Bridge subject to:-

 

(1)     agreement in principle to enter a legal agreement with the Developer Consortium that acceptably mitigates the financial risk to the Council; and

 

(2)     the Chief Executive, in consultation with the Leader of the Council, being satisfied that the developers are able to deliver the project.