Decision details

As Portfolio Holder for Planning and Regeneration, Councillor Church presented the report to Cabinet.  He introduced advisors and an officer who delivered a presentation outlining the main points of the report, especially highlighting the financial and legal implications of the proposed Development Agreement and pointing out the risks involved.

Councillor Church then thanked all council officers involved in the preparation of the Development Agreement up until this point.

RESOLVED

1.      That the progress made since signing Heads of Terms in December 2007 is noted and consideration be given to the reports by the Council’s Advisors at Appendices 1 and 2.

2.      That the Chief Executive be instructed to proceed to complete this Development Agreement on behalf of the Council.

3.      That the Chief Executive be instructed to sign the Development Agreement on behalf of the Council, subject to any minor changes agreed by the Chief Executive in consultation with the Leader, Portfolio Holder for Planning & Regeneration and the Portfolio Holder for Finance.

4.      That the Chief Executive be instructed to progress the activities and obligations set out in the Development Agreement working collaboratively with Legal & General and with key stakeholders, to enable delivery of a scheme.

5.      That it be agreed to delegate to the Chief Executive, authority to sign the side letter requested by Legal & General, in consultation with the Leader, Portfolio Holder for Planning & Regeneration and the Portfolio Holder for Finance.

6.      That support is confirmed for the Council to consider the use of powers pursuant to section 226 of the Town and Country Planning Act 1990 to acquire the third party interests by compulsory purchase.  The Council will be obligated to use its power to progress a CPO, if required, to assist in bringing forward the land assembly in providing vacant possession.  The Council’s costs would be indemnified by the Developer as set out in the DA.  (Council Officers will report to Cabinet, if any detailed CPO proposals are required, at a later date).

7.      That authority is delegated to the Chief Executive to sign the CPO indemnity Agreement simultaneously with the signing of the Development Agreement, subject to any minor changes agreed by the Chief Executive in consultation with the Leader, Portfolio Holder for Planning & Regeneration and Portfolio Holder for Finance.

8.      That it is noted that due diligence is being exercised and is still ongoing to allow the DA to be signed within several weeks of this Cabinet meeting.

9.      That Cabinet recognise and appreciate the hard work of all officers involved in the project until this point.