Hi all
I wonder if anyone has come across this issue and how their council has dealt with it?
We have an approved methodology to invite bids for Strategic CIL funding on an annual basis. We’ve applied this process and had member approval to allocate CIL to some projects that met our criteria. There remain some funds in the Strategic CIL pot, which has been rolled forward to next year’s bidding round.
The council funds some schemes on its capital programme using prudential borrowing. Some of these are in progress or completed and the council is paying interest on the borrowing. Our finance dept want to use Strategic CIL to offset this borrowing on some of the schemes but we have not been provided with justification for how the schemes meet our CIL funding criteria.
I am unsure if CIL can be used in this way in any event. The legislation and guidance do not seem to cover this scenario.
Any views on this would be much appreciated.
