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stated that all outstanding funding awards must be contracted ahead of October 31^st to avoid the risk of funds being withdrawn.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.

Council considered the record of the urgent officer decision taken by the Executive Director (Development) on 31 October 2019 to enter a contract with Homes England to secure £6.088m for infrastructure to enable new development at Osney Mead Innovation Quarter under the Housing Infrastructure Fund Marginal Viability Scheme, and a recommendation to amend the capital budget to include these funds in the Council’s capital programme.

Councillor Brown, the Leader of the Council, presented the report and answered questions. She moved the recommendations, which were agreed on being seconded and put to the vote.

Council resolved to:

1.    note the urgent officer decision taken by the Executive Director (Development) on 31 October 2019 to enter a contract with Homes England to secure £6.088m for infrastructure.

2.    approve the inclusion of a budget of £6.088m in the Council’s capital programme for Osney Mead Infrastructure enabling works.