Funding Agreement Funding Agreement between HCA
Homes and Communities Agency · United Kingdom
Key facts
- Contract value
- £11,000
- Awarded
- 28 Mar 2016
- Contract starts
- 28 Mar 2016
- Contract ends
- 23 Aug 2016
- Buyer type
- Central government
Awarded to
| Supplier | Value |
|---|---|
| Pinsent Masons LLP | £11,000 |
Description
Funding Agreement between HCA and Ashford Borough Council regarding to M20 Junction 10a.
Highways England is delivering a new motorway junction (known as Junction 10a) close to the existing Junction 10 of M20 in Ashford Kent. The total project costs are estimated to be £86m. of this £16m will be funded by developer contributions through S106 and S278 Agreements and through CIL and will be collected by Ashford Borough Council. However; these contributions will not become due until a Development Consent Order has been obtained and; in most cases; until after the junction has been built. There is; therefore; a cash flow issue regarding the timing of the funding needed. The HCA is proposing; subject to approval; to enter into a funding agreement with Ashford Borough Council which will allow the Council to provide the funding to Highways England. The Council will repay the HCA as developer contributions are received.
Categories (CPV)
- 79100000 Legal services
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