Purpose

The purpose of this report is:
1.To seek approval to transfer part of the Play Area Capital Contribution received through the Section 106 Agreement dated 21st March 2019 to Bestwood Village Parish Council to expend on capital projects which meet the requirements of the Section 106 Agreement;
2.To establish by virement the capital programme budgets for the delivery of Play Area projects by the Parish Council, to be funded by Section 106 Developer Contributions.

Decision

To approve:
1) the transfer up to £29,663.15 of the Play Area Capital Contribution from the Section 106 Agreement dated 21st March 2019 in relation to the Planning Permission 2014/0238 – Land West of Westhouse Farm, Moor Road, Bestwood, Nottinghamshire, to be spent in accordance with Schedule One of the above Section 106 Agreement.
2)the establishment, by virement, of the capital programme budgets for delivery of Play Area projects to be funded by Section 106 Developer Contributions as detailed in Recommendation 1.

Reasons for the decision

To ensure the expenditure of Play Area Capital Contribution in accordance with the terms and obligations of the Section 106 Agreement dated the 21st March 2019.

Alternative options considered

Gedling Borough Council could not transfer the Section 106 Contribution to Bestwood Village Parish Council. If the Council does not spend the financial contribution in accordance with the obligations and timescales within the relevant agreements this could result in the contribution having to be repaid back to the developer.