Issue - meetings

Report of Commercial Director (Bicester)

Purpose of report

To advise Members of the expenditure of the Eco Town grant received in 2010 and projects delivered in Bicester, to enable consideration of the proposals for future expenditure and to authorise a change to the delegation for authorisation of expenditure.

Recommendations

The meeting is recommended:

 1.1        Note the expenditure that has taken place and the committed funding from the Eco Town grant

1.2         Note the progress that has been made in delivering projects to meet the aims of the One Shared Vision for the Town 

1.3         Agree the delegation of future expenditure to the Commercial Director (Bicester) in consultation with the Leader of the Council.

Resolved

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

(2)          That the progress that has been made in delivering projects to meet the aims of the One Shared Vision for the Town be noted.

(3)          That the delegation of future expenditure to the Commercial Director (Bicester) in consultation with the Leader of the Council be agreed.

The Commercial Director (Bicester) submitted a report to advise Members of the expenditure of the Eco Town grant received in 2010 and projects delivered in Bicester, to enable consideration of the proposals for future expenditure and to authorise a change to the delegation for authorisation of expenditure.

Resolved

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

(2)          That the progress that has been made in delivering projects to meet the aims of the One Shared Vision for the Town be noted.

(3)          That the delegation of future expenditure to the Commercial Director (Bicester) in consultation with the Leader of the Council be agreed.

Reasons

Over the last 4 years a considerable amount of work has been done in Bicester and as this report demonstrates a number of outcomes have been delivered. Work has now started on site at NW Bicester on a national exemplar development as well as a masterplan for the whole site being submitted. The Project Team has worked with the promoters A2Dominion to ensure that the development meets the high standards set in the Eco Towns Planning Policy Statement. With work underway on site the potential to deliver key infrastructure on site in the form of the school and eco business centre is now closer, with the school due to start on site in March 2015 and steps now being taken to formalise the delivery of the eco business centre.

A number of projects have been delivered in the town, particularly focussing on energy efficiency and sustainable travel. These have delivered demonstration projects as sought by DCLG and delivered against the aims of the One Shared Vision for the town.

Over £30m worth of grant funding has been attracted to Bicester, including the DCLG eco 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 study by Montague Evans estimated that over £184m of private sector funding has been invested in the town since 2009 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 is £950 million which is expected to be supported by approximately £700 million of infrastructure investment.

Never the less as the town grows the DCLG eco town funding remains an important source of funding for the delivery of projects in the town. Importantly the funding is enabling a project team to be employed and this is instrumental particularly in the attraction of additional funding and delivery of projects in the town. To maximise the benefits from the grant the ability to recycle funding  ...  view the full minutes text for item 73