Community Infrastructure Fund - Broadland
The Community Infrastructure Fund can be used to help Parish and Town Councils forward fund infrastructure prior to receiving Community Infrastructure Levy payments.
In return, the applicants Community Infrastructure Levy receipts will be retained by Broadland District Council to repay the sum drawn down against the Fund.
Funds are made available through two different application processes:
- The Community Infrastructure Fund for projects valued at over £15,000 but less than £49,999
- The Community Infrastructure Fund (Large Projects) - for projects valued at over £50,000.
This scheme:
- will only lend based on CIL receipts due to be transferred to Parish/Town Councils (either 15% or 25% depending on whether a Neighbourhood Plan is in place).
Eligibility:
- applicants must be due to receive CIL receipts from developments and phases which have or about to commence on site – this is required to replenish the Community Infrastructure Fund
- projects must be able to demonstrate deliverability and an implementable operational plan
- funding will not be awarded for project scoping or feasibility work
- applicants must demonstrate response to a need in their Parish/Town and adjacent areas
- Repayment of the loan in full, including interest must be within a 5-year period.
- Interest will be applied daily from the start of the loan agreement at the prevailing Bank of England base rate.
Please contact the Growth Delivery team if you’d like to discuss further and request an application form:
Growth Delivery Team
Please contact the Growth Delivery team if you’d like to discuss further and request an application form.