(a)          Decision(s)

That approval be given to £350,000 from the New Homes Bonus Reserve fund being allocated, in line with the Cabinet report, to allow Buckinghamshire Advantage and the Buckinghamshire County Council to continue work as promotor of the Woodlands Site.

(b)          Reason(s) for Decision(s)

The Woodlands development is largely regarded as the exemplar development in the emerging Aylesbury Garden Town Masterplan.  The current planning consent will deliver 1,100 new homes, 1 million sq ft of Employment space and a key part of the Aylesbury Link Road.

The funding is to be used for Phase 1 and how the site is taken forward and the site is at a critical point in terms of viability. Buckinghamshire County Council have approved their part of the funding and it is a priority project with the development being of strategic interest.

Because of the complexity surrounding this development, reaching planning consent and formulating a clear set of delivery options has taken longer than originally envisaged.

A future tranche of funding is therefore required to ensure the development continues to progress and so that a series of delivery options can be presented to council.  This information is also partially required to support the HIF bid submission.

The funding required (£700,000) will be jointly contributed by Bucks County Council and Aylesbury Vale District Council.  As the funding exceeds the threshold set out in the Spending Protocol, this report was considered and endorsed by Shadow Executive on 23 July 2019.

(c)          Alternative Options Considered

None.  The project is now at a critical point in the delivery phase and without further contributions the project is in imminent danger of stalling.

(d)          Relevant Scrutiny Committee

Finance and Services.

(e)          Conflicts of Interest / Dispensation(s)

Councillor Bowles declared a prejudicial interest as a Buckinghamshire Advantage Board Member and left the room whilst this matter was considered.