Purpose

The East of Otley development scheme was previously awarded Housing Infrastructure Funding (HIF) to support initial design and feasibility as well as supporting scheme viability given the level of infrastructure required to facilitate development.  The scheme viability has been reassessed and the Brownfield Infrastructure and Land (BIL) Fund has been identified as a potentially more suitable funding approach.  A decision is therefore required to withdraw from HIF and to enter into a new agreement with Homes England for BIL funding.  A decision is also required to inject the Council’s land holdings which form part of the development into the Capital Receipt Programme.