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.