Thank you for your reply restating what you have already explained in your previous comment to me. I hope you don’t mind if I published your comments?
The capital budget is based on estimates of costs and forecasts of income. Section106 income in the capital budget cannot be guaranteed as the amount of s106 is negotiable and contingent on the viability of each quanta of development and the timing of its delivery, and may in turn affect the proportion of affordable housing each quanta of can deliver. Also currently there are restrictions on the size of the s106 item pool that can be held by the Council before the funding has to be spent.
My substantive point is the Council tax payer will have to underpin the costs of capital if forecast levels of income aren’t realised as the Council is clearly planning to borrow capital in advance of receiving forecast income. To put it another way if income was certain in amounts and their timing there would be no need to borrow money to fund roadway infrastructure in the first place.
It is interesting what you say about Woodside Link Road funding as it appears that although developer funding is substantial that quanta of funding does not meet the entire costs of the link. So how is the shortfall going to be funded?
According to the planning Inspector presiding over an appeal (APP/P0240/W/16/3154220) concerning the Council’s decision not to give planning permission to housing development in Flitton, the council is nowhere near achieving a 5 year housing land supply, as much of the housing development at Houghton Regis North cannot realistically be delivered within a 5 year period that started over 18 months ago.