Agenda item

Report of Commercial Director

Purpose of report

To advise Members of the work that is being undertaken in Bicester including highlighting key achievements; of the expenditure from the Eco Town grant; received in 2010; and, of forward planned expenditure 2016/17

Recommendations

The meeting is recommended:

1.1.       To note the progress on work in the town.

1.2.       To note the expenditure that has taken place and the committed funding from the Eco Town grant.

1.3.       To note 2016/17 forward plan.

Resolved

(1)            That the progress on work in Bicester be noted.

(2)            That the expenditure that has taken place and the committed funding from the Eco Town grant be noted.

(3)            That the 2016/17 forward plan be noted.

The Commercial Director submitted a report to advise Members of the work that was being undertaken in Bicester including highlighting key achievements; of the expenditure from the Eco Town grant; received in 2010; and, of forward planned expenditure 2016/17.

Resolved

(1)            That the progress on work in Bicester be noted.

(2)            That the expenditure that has taken place and the committed funding from the Eco Town grant be noted.

(3)            That the 2016/17 forward plan be noted.

Reasons

Much is happening in Bicester and this is demonstrated by the delivery of new development such as Franklins House with the new library and CDC link point, the continued housing delivery. Work to provide an appropriate policy basis for the improvement and growth of the town has progressed with the adoption of the NW Bicester SPD and the consultation work to refresh the vision for the town.  Never the less there remain challenges in delivering the strategic development sites in the adopted local plan and ensuring sufficient infrastructure is in place to serve the growth of the town and work continues with partners to deliver necessary infrastructure and seek to speed up housing delivery.

The work continues to have a whole town approach, seeking opportunities to improve the existing town as well as deliver new development. A number of projects have been delivered in the town, particularly focussing on energy efficiency and sustainable travel. In the last year this has been focussed on the replacement boiler scheme the energy mapping project LEMUR and securing grants to support other works such as the café and playground at Garth Park. Pursuing a whole town approach remains and important commitment with considerable work going into bids for funding to enable projects to be delivered.

Over £19.5m worth of grant funding is outlined above and this together with previous grants comes to over £50m that has been attracted to Bicester, including the DCLG Eco Town funding and Garden Town funding. This has been instrumental in the range of projects that it has been possible to deliver in the town. This approach of seeking external funding is continuing with further work being done to enable projects to continue to be delivered in the town.

Grant funding is a small proportion of the overall investment that has taken place in the town. A draft study by Montague Evans estimated that 2014/15 that over £150m of private sector funding has been invested in the town in the construction of housing and commercial premises. Furthermore the report concluded in terms of future development as part of the growth of Bicester, the estimated value of the housing sites identified in Bicester by 2031 is £1.2bn which is expected to be supported £750 million of infrastructure investment.

Bicester continues to attract national attention for its growth plans and the delivery of projects in the town. The work to date has attracted considerable investment through grants but also through the private sector investment in the town. Never the less there remains an ambitious programme of work to deliver improvements in the town during 2016/17.

Alternative options

Option 1: Identify alternative approaches to the use of Eco Town Grant or continue to hold the funding.

This option has been rejected as the projects identified have been identified based on the needs identified and arising within the town.

Option 2: To commit to future spend of recycled Eco Town Grant funding

The timing of the receipt of recycled funding is uncertain and over time priorities and pressures can change. It therefore is difficult to commit to funding specific projects at the current time. Some flexibility is therefore sought to review priorities as funding becomes available.