Entering into a funding agreement with the Environment Agency to claim, and when received, to transfer up to £4.35m of HIF funding to the EA to support the delivery of the Oxford Flood Alleviation Scheme.
Delegated by Cabinet on 19 September 2023 to the Director of Regeneration, Economy and Sustainability, in consultation with the Deputy Leader (Statutory) – Finance and Asset Management, the Group Finance Director (Section 151 Officer) and the Director of Law, Governance and Strategy (Monitoring Officer) to finalise the drafting of agreements and enter into ancillary grant agreements with Oxfordshire County Council and the Environment Agency and take any other steps necessary to enable or facilitate the claiming of the HIF funding.

The Director Sustainability Regeneration, Economy & Affordable Housing decides as follows:

1.    To enter into a grant agreement with the EA for the transfer of £4.35m of Housing Infrastructure Funding to be used for the OFAS

2.    Subject to the completion of the grant agreement to transfer the grant funding of £4.35M HIF funding  to the Environment Agency

This decision allows for the steps necessary to implement the part of the HIF agreement related to flood reduction and provide the claimed funding to EA for the OFAS scheme. This supports the over all delivery of the HIF infrastructure that facilitates development at Osney Mead.

The alternative is not to use the HIF OFAS funding and return it to Homes England. This has been rejected as it would leave a funding gap for the OFAS scheme.