Purpose

The Cabinet will be asked to
approve changes to the level of Neighbourhood Community
Infrastructure Levy (NCIL) funding contributed to growing the
Borough Community Endowment.

Content

Cabinet resolved to:
 
(i)  Agree to cap the
contribution to growing the Borough Community Endowment fund at a
maximum of £100,000 or 20% of the Neighbourhood Community
Infrastructure Levy (NCIL) income above £300,000, whichever
was lower;
 
(ii)  Agree that the
change take effect immediately and include the income collected
in-year 2025/26;
 
(iii)  Agree that the Council
commits to the proposed model of investing in the Community
Endowment for a period of 10 years, providing the level of NCIL
collected remained sufficiently high enough to do so; and
 
(iv)  Delegate authority to the
Director of Strategy, in consultation with the Strategic Director,
Inclusive Growth and Place, to make future changes pertinent to the
use of the NCIL funding.