Decision details

The Cabinet had before it a * report of the Head of Planning, Economy and Regeneration  informing Members of the current funding opportunities under the Housing Infrastructure Fund and seeking approval to pursue a bid for infrastructure projects in the district and to agree prioritisation of the projects to be submitted

The officer outlined the contents of the report stating that in July 2017 the Government launched its £2.3 billion Housing Infrastructure Fund to finance infrastructure to unlock housing delivery.  She highlighted the two separate funding streams available, the Forward Funding stream available to upper tier Councils and the Marginal Viability Funding stream eligible for District and Unitary Councils.  Two projects would be put forward for funding by MDDC under the Marginal Viability element:

(i)            Junction 28 of the M5 Motorway, Cullompton which required funding to assist in capacity of the junction pending the delivery of strategic improvements.  The proposed improvement would increase the junction’s capacity through the creation of an additional lane over the bridge over the M5 to provide two lanes in each direction, the construction of a new footbridge and full signalisation of the junction.  She explained that the County Council had  submitted an expression of interest under a different funding stream to help deliver the shorter term improvements.

(ii)          Northern element of the A361 junction east of Tiverton, phase 1 of the scheme had a funding project in place and work was about to commence.  Phase 2, (the overbridge and northern slips) was suitable for a funding bid.

She explained that bidders under the Marginal Viability Fund were asked to prioritise when submitting more than one scheme taking into account the degree of ambition for the scheme, value for money, the additional homes proposed, the strategic approach and deliverability.  It was clear that the Junction 28 scheme could deliver more housing and economic growth opportunities and would match the strategic approach of the authority to growth as set out in the submitted Local Plan review; therefore it was proposed that this scheme would be highlighted within the bid as the priority.

Consideration was given to:

·         Concerns of local Ward Members relating to the J28 proposal to endure that sufficient regard was had to pedestrian access and cycle lanes

·         The infrastructure required for development within Mid Devon

·         The importance of both schemes

RESOLVED that:

a)    Delegated authority be given to the Head of Planning, Economy and Regeneration to submit a bid to the Housing Infrastructure (Marginal Viability) Fund to seek finance for the projects identified within the report; and

b)    The bid be prioritised to relate to improvements to Junction 28 of the M5

(Proposed by the Chairman)

Note:  * Report previously circulated, copy attached to minutes.