Decision Maker: Executive
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose: To consider feasility and constings
information for the new community facility at SM4 Strategic
Development Location supporting the utilisation of S106
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;
Reference Number: WBC829
Contact: Mark Redfearn Email: email@example.com 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