Agreement to purchase the unit into the HRA as Social Rent to provide an Affordable Housing opportunity.

Leasehold purchase of a one-bedroom ground floor flat at 67 Sherwood Place for a purchase price of £170,000.

To enter into a build contract with Equans Ltd. OCHL will act as the development manager on behalf of the Council, and will undertake the direct development of Phase 1 of the Northfield development in the HRA

To authorise entering into a build contract with Equans Ltd. to undertake this development project (as above).  The budget envelope for the project has been provided at annual February Council budget setting meetings.

The decision will enable the completion of the sale of the land. This will deliver a capital receipt to the Council.

The decision is to enter into the contracts and agreements to confirm the sale of the land.  The details of the terms are commercially sensitive and as such are exempt under Part 15.4 (c ) b of the constitution. Confirmation has been received that the proposal meets the requirements of S123 of the Local Government Act 1972. A legal report has also confirmed the terms of the sale.

The decision is required in order for ODS to pay OCC £1.9m dividend income.

Declaration of a dividend of £1.9m for the financial year 2023/24 from ODSL. Decision not exempt.

The decision relates to the adoption of a net revenue share agreement between Oxfordshire County Council and Oxford City Council with regards to the ZEZ Pilot scheme.

Payments from the ZEZ Pilot to the City will comprise repayment of all City’s net eligible historic costs, and payment of 50% share of net income (once running costs are deducted) for every year that the scheme is in operation, up until the date by which the expanded ZEZ scheme is expected to launch.

This agreement contributes to the improvement of local air quality and responds to the City Council’s current Climate Change commitments, as introduces a new revenue stream that the City Council can use to invest in sustainable transport-related projects for the city and its residents.

Income from the Pilot ZEZ Scheme will only be used to pay for its development and operation and to fund schemes that support the transport objectives of both councils, as the Transport Act 2000 requires that net proceeds are only used for schemes that facilitate the achievement of local transport policies.

The Executive Director (Development) has exercised delegated authority to approve the legal agreement proposed by the County Council, after consultation with the Head of Financial Services, the head of Corporate Strategy, and the Head of Law and Governance, and after considering all the information available in the Cabinet report of 17^th April 2024 and its appendices:

According to the proposed agreement, payments from the ZEZ Pilot to the City will comprise repayment of all City’s net eligible historic costs, and payment of 50% share of net income (once running costs are deducted) for every year that the scheme is in operation, up until the date by which the expanded ZEZ scheme is expected to launch, whereby this proposed income share agreement automatically ceases.

Although the City Council’s liability for its share of net costs is unlimited under the agreement, it is concluded that the risk to the City Council of incurring in those liabilities is very reduced (practically residual) given:

The elements provided by County in its Shared Costs and Income Forecast Report (Appendix 3 -Confidential) and which clearly attest for the financial viability of the scheme.

The elements provided by City in its Risk Assessment Report (Appendix 2).

The fact that the proposed agreement currently includes a mutual indemnity against costs arising to either party, as a result of the other’s failure (lawfully or properly) to fulfil its functions.

The short-term duration of this agreement (anticipated to be in place only until the expected launch of the wider ZEZ scheme) and how this element impacts on current and future EV uptake rates (In the Pilot Zone, and Nationally), as highlighted in detail on the “Financial Implications” section of the cabinet report.

As soon as the City Council seals the ZEZ Income Partnership Agreement, the document will need to be submitted to Oxfordshire County Council for its final approval.