Information on Purchase of Playing Field & Spinney
Introduction by Diane Bohm, Chair of Parish Council
The Parish Council began discussing the possible purchase of the playing field and spinney at the entrance to the village on the road to Bletchingdon as long ago as the February 2019 meeting. The Council agreed to investigate the potential purchase and in August 2019 received information on a Public Works Loan including the repayment costs over a range of years. We also began discussions with the owners, the Duchy of Cornwall and have received encouraging responses to our request for terms. Responses from the public has been positive at our Parish Council meetings with the basic view being that our current rent payment should go towards a low interest loan. Being the owners of the field including the playground and the spinney would give us a wide range of opportunities to customise it to our needs and preferences. There has also been a view that depleting our reserves through channelling them to this purchase would reduce our bank of funds for defending us if any of our key planning applications went to inquiry. Our response to this concern is that we intend to work within our budget with careful overview by our Finance Advisory Group.
If you have a view or question on this potential purchase, please either send a query to us through the Clerk or attend one of our Parish Council meetings being held virtually at the moment with room for a good number of people.
Public Works Loan Board
The PWLB lending facility is operated by the UK Debt Management Office (DMO) on behalf of HM Treasury and provides loans to local authorities, and other specified bodies, from the National Loans Fund, operating within a policy framework set by HM Treasury.
Further information on a loan from the Public Works Loan Board can be found on the following website: https://www.dmo.gov.uk/responsibilities/local-authority-lending-pwlb/about-pwlb/
Parish Council Meeting Minutes
The minutes from Parish Council meetings where the purchase of the playing field and spinney from the Duchy of Cornwall has been discussed include: