IBC was successful in being awarded £9.8m from the DCLG / Homes England - Housing Infrastructure Fund (HIF) to be spent on three key pieces of Infrastructure at Ipswich Garden Suburb (IGS) - a country park and 2 railway bridges (1 vehicular, 1 pedestrian/cycle).
Executive have authorised the Chief Executive to enter into the necessary agreements with Homes England for the HIF money. In order that the infrastructure is delivered IBC will need to transfer the HIF funds to the developer Crest Nicholson who have agreed to deliver country park and two bridges.
Executive authority is sought to enter into a Back to Back agreement between IBC and Crest Nicholson in order to control how the funds are spent and how the risk is managed.
Decision type: Key
Decision status: Recommendations Approved
Notice of proposed decision first published: 02/09/2019
Decision due: 1 Oct 2019 by Executive
No change since last plan
Lead member: Portfolio Holder: Planning & Museums
Contact: Carlos Hone Email: email@example.com Tel: 01473 432000.
Portfolio Holder for Planning & Museums
Chief Operating Officer
Head of Development