The funding is for delivery of new infrastructure at Osney Mead to enable the first phases of redevelopment of the Osney Mead Innovation Quarter to take place in line with the emerging Local Plan. This decision ensures the funding is secured following an urgent deadline given by Homes England to finalise contracting. They have stated that all outstanding funding awards must be contracted ahead of October 31^st to avoid the risk of funds being withdrawn. It should be noted that £4.35m is the last piece of funding secured for the Oxford Flood Alleviation Scheme. The remaining £1.738m funds pedestrian and cycle routes linking Botley, Hinksey, Osney Mead and Oxpens alongside a wider pool of funds.

The decision was made to sign a General Funding Agreement (GFA) with Homes England to award Oxford City Council £6.088m of Housing Infrastructure Funds (HIF) under the Marginal Viability Scheme.

An urgent decision was required to secure the funding.

Turning down the funding – this was not desirable given the partnership working that has taken place over two years, and the interdependencies with arrange of priority projects.

The consideration as to whether S151 delegated approval was enough to allow the contract decision. This route does not provide a basis for the decision to enter contract.

Decision made by Director of Development and signed off by the  S151 Officer and  Head of Legal and Democratic Services.