1) That the s151 Officer be authorised to:
a) Purchase credits if required to meet immediate demand from smaller developers, subject to being able to agree suitable acquisition terms and prevailing market conditions making the purchase by the Council necessary; and subject to a maximum financial exposure of £250,000 at any time.
b) Price and sell credits to suitable purchasers in accordance with market conditions at the time of sale subject to being able to agree suitable terms; and set an administration fee to recover reasonable costs.
2) That the Service Lead Legal be authorised to enter into suitable legal arrangements for the council to undertake the monitoring and enforcement of mitigation sites (or delegate the function to the mitigation land authority) to ensure the land is managed so that mitigation is delivered in perpetuity; subject to the Corporate Head of Regulatory agreeing suitable terms with mitigation landowners for application sites located within the council’s area as local planning authority, including a commuted sum to cover the resourcing of this activity,
3) That the Corporate Head of Regulatory be approved to pursue the option of a joint purchase of Test/Itchen catchment nitrate credits with neighbouring local planning authorities through Partnership for South Hampshire, subject to suitable terms being agreed with mitigation landowners and prevailing market conditions making the purchase of such credits appropriate and necessary.
4) That the schemes listed in table A of report CAB3301 be approved as being able to provide suitable mitigation for residential development schemes in the three catchment areas of the district, subject to consultation with Natural England as required and satisfactory monitoring and enforcement arrangements being in place to ensure mitigation is delivered in perpetuity, and authority be delegated to the Corporate Head of Regulatory to amend the list by removing or adding schemes to the list as appropriate.