Draft Indicative Allocation for New Homes Bonus
The Panel will receive the draft New Homes Bonus Indicative Allocation for 2019.
Decision:
RESOLVED BY THE CABINET MEMBER FOR COMMUNITY SERVICES IN CONSULTATION WITH THE PANEL:
That the New Homes Bonus Indicative Allocation 2019/20 be approved for circulation without amendment subject to the approval of the council’s budget 2019-20.
Minutes:
Mr Hyland explained the table of Indicative Allocations for New Homes Bonus which if agreed by the Panel will be presented at the next Cabinet meeting. Mr Hyland also explained that the Orphan Interest column amounted to £23,000 which had been accrued from section 106 monies that could not be retraced to specific developments, hence it’s heading of ‘Orphan’ interest. It was therefore considered to be most appropriately utilised to increase available New Homes Bonus as this would provide an opportunity to spend the interest effectively and quickly. This is a ‘one-off’ situation and should not be repeated in the future. In response to the Panel’s questions, Mr Hyland further explained a Q&A sheet for parishes had been prepared, with the plan for the allocations and information to be circulated in March, updated on the Council’s website in April, and for surgeries to be held in May in preparation for the submission of applications by the end of July.
The Panel agreed that Indicative Allocation of New Homes Bonus could be proposed at the next Cabinet meeting.
RESOLVED BY THE CABINET MEMBER FOR COMMUNITY SERVICES IN CONSULTATION WITH THE PANEL:
That the New Homes Bonus Indicative Allocation 2019/20 be approved for circulation without amendment subject to the approval of the council’s budget 2019-20.