Purpose

To keep Cabinet
updated on the M5 Junction 10 Improvements
Scheme Funding requirement.
 
To set out funding proposals in
relation to delivery of the M5 Junction 10 Improvements Scheme,
including how the council intends to secure contributions from
development sites benefitting from the scheme.
 

Decision

Cllr Mark
Hawthorne on behalf of Cllr David Gray kept Cabinet
updated on the M5 Junction 10 Improvements Scheme Funding
requirement and set out funding proposals in relation to delivery
of the M5 Junction 10 Improvements Scheme, including how the
council intended to secure contributions from development sites
benefitting from the scheme.
 
Having considered all the information, Cabinet
noted the report and
 
RESOLVED to:
 
1. Acknowledge
that revisions will be required in the future to the Highways
Capital budget in relation to the scheme up to a value of
£334.270 million, on the basis of £249.131 million
secured HIF funding, £4 million secured GCC funding and notes
the remaining gap of £81.139 million, in funding for the M5
J10 improvement scheme and confirms its intention to seek to raise
those funds through section 106 contributions from
developers.

2. Approve the principle of requesting Section 106
contributions toward the M5 Junction 10 Improvements Scheme from
development sites benefiting from the scheme, with such
contributions being sought under policy INF7 of the Joint Core
Strategy (Appendix 1 - JCS
AdoptionVersion November 2017.pdf
(gloucester.gov.uk)) and/or any
subsequent policy replacement.

3. Delegate authority to the Executive Director of
Economy Environment & Infrastructure in consultation with the
Cabinet Member for Environment and Planning and the
Chief Finance Officer to negotiate and
determine GCC’s position
with regard to the scope, mechanism and levels of contribution
being south from each development site under policy INF7 of the
Joint Core Strategy and/or any subsequent policy
replacement.