Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
Cabinet will be asked to approve the Bridge
Close Regeneration LLP Business Plan 2019/2020
Decision:
Cabinet:
- Agreed the Bridge Close Regeneration
LLP Business Plan 2019, as attached at Appendix A.
- Agreed that the Leader of the Council,
after consultation with the S151 Officer, the Director of
Regeneration and the Director of Legal and Governance, approve
detailed business cases, related viability assessments, funding
arrangements and legal agreements as may be presented during the
Business Plan 2019 period.
- Agreed to Endorse and Recommend to Council budget allocation
to include £111.7 million within the proposed capital
programme.
- Agreed, in the event of approval of 2
and 3 above, to delegate to the Director of Regeneration, after
consultation with the S151 Officer and the Director of Legal and
Governance, the authority to take all steps to enable the approval
of the terms of the agreements associated with the Council’s
acquisition of interests from Bridge Close Regeneration LLP
relating to a new primary school, a health hub and affordable
housing, including any related financial arrangements and the
appointment of relevant professionals.
- Agreed in principle for the Council to
facilitate third party lending of debt to the Bridge Close
Regeneration LLP.
- Agreed, in the event of approval of 5
above,that the s151 Officer responds to the service of any notice
served by the Bridge Close Regeneration LLP, indicating a
willingness or otherwise to participate in making third party debt
available from the Council, subject to contract and due
diligence.
- Agreed, in the event of approval of 5
above, that the s151 Officer, after consultation with the Chief
Executive and The Leader of the Council, may enter into funding
agreements consistent with the Treasury management Strategy and
Councils Scheme of Delegations.
Report author: Nick Gyring-Neilsen
Publication date: 14/02/2019
Date of decision: 13/02/2019
Decided at meeting: 13/02/2019 - Cabinet
Accompanying Documents: