Issue details

Housing Infrastructure Fund - Developer Back to Back agreement

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: carlos.hone@ipswich.gov.uk Tel: 01473 432000.

Consultation process

Portfolio Holder for Planning & Museums

Chief Executive

Chief Operating Officer

Head of Development

Legal Services

Financial Services

Agenda items

Background papers

  • Executive report E/17/43 Ipswich Garden Suburb – Housing Infrastructure Fund