Decision details


Graven Hill Development Company (Dev Co) - Request for s38 agreement (Highways Act 1980) works bonds relating to highway infrastructure delivered by Dev Co.

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To consider a request from Graven Hill Village Development Company Ltd (Dev Co) for the Council to act as surety in two performance bonds for roadway infrastructure works to be undertaken by Dev Co under section 38 of the Highways Act 1980.

 

Decision:

Resolved

 

(1)           That it be approved, in principle, that the Council act as surety for Dev Co in respect of two performance bonds (up to the sum referred to in exempt Annex to the Minutes, as set out in the Minute Book) relating to the construction of highway works by Dev Co pursuant to agreements between Dev Co and Oxfordshire County Council (as local highway authority) to be made under section 38 of the Highways Act 1980.

 

(2)           That authority be delegated to the Shareholder Representative authority to agree the formal documentation in relation to the bonds, in consultation with the s.151 Officer and the Monitoring Officer.

 

(3)           That it be agreed that Dev Co be requested to pay to the council 1% of the value of the agreed bonds for use of the facility.

 

Corporate Priorities : An enterprising economy with strong and vibrant local centres;

Reason No Public Access: The appendix to the report is exempt from publication by virtue of paragraph 3 of Schedule 12A of Local Government Act 1972

Declarations: None

Subject to Urgent Proceedings: No

Contact: Steve Jorden, Corporate Director Commercial Development, Assets & Investment Email: steve.jorden@cherwell-dc.gov.uk Tel: 07770 867896.

Report author: Steve Jorden

Publication date: 07/12/2021

Date of decision: 06/12/2021

Decided at meeting: 06/12/2021 - Executive

Effective from: 11/12/2021

Accompanying Documents: