Purpose

To consider approving:
1. three grant applications, of over £100,000, to the COF;
2. delegation of authority to officers for future grant awards over £100,000 and up to £500,000; and
3. pausing the award of further grants for at least twelve months due to the success of the fund and to allow for the funding pot to be replenished from future contributions.

Decision

1. That the two Carbon Offset Fund (COF) grant agreements being proposed towards projects for MK College (£819,434.52) and Inspiring Futures through Learning (IFtL) (£289,445), be approved.
2. That the use of the fund by Milton Keynes City Council for projects at Civic (£108,000) and Milton Keynes Linford Wood Place (£223,380), be approved.
3. That, due to its success, the current fund be suspended for new external applications until such further Section 106 payments are received from developers. It is likely it will remain closed until late 2025/early 2026 for external applications.
4. That authority be delegated to the Director of Planning and Placemaking, in liaison with the Director of Law and Governance and the Director of Finance and Resources (s151), to finalise the arrangements for:

(a)        releasing future COF grant contributions up to a value of £500,000 where the conditions of any funding agreement including subsidy control requirements are met; and

(b)       setting the periods when the fund can be temporarily closed and re-opened for new applications based upon the levels of funding received via the planning applications and Section 106 agreements.

1. 5       That up to 20% of the funding be applied for project management of the fund. This includes the allocation of Council officers in promoting the fund, promoting and guiding bids, evaluating the bids, as well as awarding and monitoring the delivery of the fund, and on this basis, authority be delegated to the Director of Environment and Property to apply the programme management fees based of officer cost apportionments, which are agreed with Finance.
2. 6       That authority be delegated to the Director of Environment and Property to confirm the grant proposals and funding amounts from the COF, under paragraphs 1. and 2. above once the scheme details for Civic and Linford Wood Place are confirmed and signed off.