Cabinet, on 14 December 2022, resolved to:

1.    Approve the funding strategy and recommend Full Council to approve a capital budget of £4.56m to deliver the next phase of the project made up of:

·           Up to £289,000 up front contribution from Oxford City Council from already-secured Community Infrastructure Levy (CIL) funds;

·           Up to £3.5m of the costs to be funded by local landowners and then be reimbursed from CIL paid for any future development by those landowners that gains planning consent after the date that contracts are entered into;

·           At least £771,000 from local landowners and Oxfordshire County Council as a non-repayable grant contribution;

·           In the event that the submitted Levelling Up Fund 2 application seeking £4.0m is found to be successful in total or in part, the local funding arrangement described above would be reduced commensurately from one or more of the funding pots outlined above; and

2.    Delegate authority to the Executive Director (Development), in consultation with the Council’s Section 151 Officer, the Head of Law and Governance, and the Cabinet Members for Health & Transport and for Finance & Asset Management to agree financial contributions and terms, and then enter into all relevant funding agreements and contracts.