On the 1st February 2018 it was announced that IBC had been successful in its bid for Housing Infrastructure Funding (HIF). As a result, a £9,868,351 allocation has been made to the Council. This fund will contribute towards the capital cost of a Country Park and two railway bridges (1x vehicular and 1x pedestrian/cycle), which are strategic pieces of infrastructure, necessary to support the proposed development of Ipswich Garden Suburb.
IBC have engaged Pinsent Masons who have been working on the finalisation of the Grant Determination Agreement, the necessary back to Back Agreement between one of the developers (Crest Nicholson) and IBC, a Parent Company Guarantee, the necessary S106 drafting, and associated legal advice. The legal work that Pinsent Masons have been undertaking on behalf of IBC has been ongoing and been significantly more involved that first anticipated, with numerous drafts of the requisite agreements being compiled over the preceding 12 months. Their detailed involvement in the project mean they were realistically the best and only legal firm who could have concluded the works for this significant project.
Officers have negotiated a reduction in fees and an overall cap on fees from Pinsent Masons during the period of additional legal work. The additional legal fees total £71,762. Furthermore, officers have negotiated with the developers involved in the IGS project, who have committed to contribute to the final legal costs.
Capacity funding was awarded from the Homes and Communities Agency specifically to progress development at the IGS and to overcome any funding barriers to the development starting, such as legal support. Therefore, monies are available to cover the outstanding costs.
Decision type: Non-key
Decision status: Recommendations Approved
Wards affected: Rushmere; St Margaret's; Whitton;
Notice of proposed decision first published: 04/02/2020
Decision due: 3 Feb 2020 by Officer Decision
Internal Consultees: Planning & Development Officers, Procurement S151 Officer, Head of Development and Monitoring Officer.