# Funding Agreement Funding Agreement between HCA

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: HOMES & COMMUNITIES AGENCY
- Contract winner: [Pinsent Masons](/contract-winners/pinsent-masons/public-sector-contract-awards)
- Award value: £11,000
- Tender value: £11,000
- Award date: 29 March 2016
- Published: 18 November 2016
- Contract start: 29 March 2016
- Contract end: 23 August 2016
- Stage: awarded
- Procurement category: services
- Notice ID: 106b484b-3090-45b8-b78a-b38519edec86-109808
- OCID: ocds-b5fd17-339521e1-adca-11e6-9901-0019b9f3037b

## Description

Funding Agreement between HCA and Ashford Borough Council regarding to M20 Junction 10a\. Highways England is delivering a new motorway junction \(known as Junction 10a\) close to the existing Junction 10 of M20 in Ashford Kent\. The total project costs are estimated to be £86m\. of this £16m will be funded by developer contributions through S106 and S278 Agreements and through CIL and will be collected by Ashford Borough Council\. However; these contributions will not become due until a Development Consent Order has been obtained and; in most cases; until after the junction has been built\. There is; therefore; a cash flow issue regarding the timing of the funding needed\. The HCA is proposing; subject to approval; to enter into a funding agreement with Ashford Borough Council which will allow the Council to provide the funding to Highways England\. The Council will repay the HCA as developer contributions are received\.

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- [HCA - Mile Bank Road- Demolition and Remediation](/contracts/ocds-b5fd17-e594ac0c-5768-4a92-bf5e-adf2e4feea5a): Homes and Communities Agency
- [C1198 - Legal Services - Pinsent Masons](/contracts/ocds-b5fd17-5023694a-02f0-4ca8-9504-8de51214b668): NATIONAL WEALTH FUND LIMITED
- [Legal Assistance for Arbitration](/contracts/ocds-b5fd17-edfe3219-a257-4893-a128-f8e628e69c66): Department for Culture, Media and Sport
- [Legal Services](/contracts/ocds-b5fd17-a7b08294-14e4-442d-a82f-4fc637760387): University of Lincoln

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/106b484b-3090-45b8-b78a-b38519edec86-109808)