Decision details

SDL Community Facility, Shinfield

Decision Maker: Executive

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Purpose: To consider feasility and constings information for the new community facility at SM4 Strategic Development Location supporting the utilisation of S106 funds.

Decision:

That:

1)        the utilisation of the following S106 contributions from developers on the community facility jointly delivered by Wokingham Borough Council and Shinfield Parish Council on the former Royal British Legion site in Shinfield be agreed:

 

(a)       £1,136,000 from the S106 funds for community facilities in the SM4 development area; and

(b)       up to £1,000,000 from the S106 fund for leisure and community facilities in the SM4 development area.

 

2)        the Director of Finance and Resources be authorised to forward fund the scheme through borrowing;

 

3)        it be noted that the interest costs will be funded by the reserve for infrastructure 'bridging loans' if it cannot be accommodated within existing Treasury Management budgets.  The borrowing costs are estimated to be £75K if the scheme is commenced in 2016/17 or £23K if the scheme is commenced in 2017/18. 

 

Wards Affected: Shinfield North; Shinfield South;

Declarations: None

Dispensations: None

Reference Number: WBC829

Contact: Mark Redfearn Email: mark.redfearn@wokingham.gov.uk Tel: 0118 974 6012.

Report author: Mark Redfearn

Publication date: 31/03/2016

Date of decision: 31/03/2016

Decided at meeting: 31/03/2016 - Executive

Effective from: 09/04/2016

Accompanying Documents: