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.