Upon the invitation of the Chair, theDirector of Place presented the report which presented a summary of some Section 106 funds that had been received by the Council in accordance with Planning Permissions which required the funds to be spent on specific purposes or to be returned to the Developer. He explained that the Council intended to discharge the obligation by transfer of the funds to third parties not beneficiaries under the Deeds and that this report requested authorisation to enter into Deeds of Agreement with the relevant third parties and formally transfer the responsibility for discharging the obligations under the section 106 Deeds.
RESOLVED - That
1. The Committee allow deeds of agreement to be entered into and subsequently allow the expenditure by way of transfer of funds as detailed in the report;
2. The Committee approve the virement of funds in accordance with the Council Constitution for the financial recording of the Section 106 agreements.