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.