Decision Maker: Cabinet Member for Highways, Assets and Transport
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
To seek the Cabinet Member’s approval to
waive the requirement for a Guarantee Bond with regard to proposed
works at Sheffield Road, Chesterfield which are to be undertaken by
Chesterfield Borough Council within the existing highway pursuant
to a Section 278
Agreement under the Highways Act 1980.
a) approves to waive the requirement of a
Guarantee Bond regarding proposed works on Sheffield Road,
Chesterfield which are to be undertaken by Chesterfield Borough
Council under Section 278
Agreement of the Highways Act 1980.
As the developer is a local authority, the
County Council consider the risks of default or financial
insolvency are negligible and are therefore able to waive the
requirement for a Guarantee.
A formal request has been received from CBC to
seek approval from the County Council to waive the requirement for
a Guarantee Bond.
The alternative option is to not waive the bond and request a Guarantee Bond or cash deposit of £44,850 from Chesterfield Borough Council.
However, given that CBC has offered to underwrite the work and complete them to an adoptable standard this is not considered necessary. Also, as a local authority, CBC has a clear vested interest in ensuring good quality development at this site and the risk of on completion of the work is very low.
Publication date: 08/10/2021
Date of decision: 08/10/2021
Effective from: 16/10/2021