Agenda item

Appendices 2-5 of this report are not for publication as they contain exempt information of the description contained in paragraphs 14, 16 and 21 of Schedule 12A of the Local Government Act 1972

An amendment sheet was circulated, which amended paragraph ten of the report, the amended paragraph now names the developer, this was following feedback from scrutiny.

RESOLVED: that

1)              the disposal for the residential and commercial plots as set out in this report and the legal report attached at Confidential Appendix 2 and in line with independent valuers advice attached at Confidential Appendix 3 and the proposals at Confidential Appendix 5 be approved and authority be delegated to the Director of Economic Development, in consultation with the Cabinet Member for Investment & Development, the Section 151 Officer and the Legal Officer, to conclude all legal agreements to complete the disposal strategy.

2)              the lift and shift obligation set-out at Confidential Appendix 2 and the development of a Full Business Case to determine a long-term car parking solution for the ISV site to be presented back to Cabinet for approval in advance of the first call-down of land by the appointed developer be noted.

3)              a soft market testing exercise be authorised to inform the further development of the Outline Business Case for the Energy Strategy to be presented back to a future meeting of Cabinet.

Appendices 2-5 of this report are not for publication as they contain exempt information of the description contained in paragraphs 14, 16 and 21 of Schedule 12A of the Local Government Act 1972

Public and confidential letters from the Economy & Culture Scrutiny Committee were circulated.  An amendment sheet was circulated, which amended paragraph ten of the report, the amended paragraph now names the developer, this was following feedback from scrutiny.

This report details the continuation of the ISV project and outlines a series of next steps including completing an agreement with a developer to enable work to begin on planning applications, determining the long term strategy for parking on the site, continuing the development of a full business case for the sport leisure attraction, and the necessary work on an outline business case for the energy strategy for the site.

The Leader, highlighted the clauses secured to avoid the risk of land banking with firm timeframe set for developer to bring forward plans through the planning process, should these not be met the control would fall back to the Council.

RESOLVED: that

1)              the disposal for the residential and commercial plots as set out in this report and the legal report attached at Confidential Appendix 2 and in line with independent valuers advice attached at Confidential Appendix 3 and the proposals at Confidential Appendix 5 be approved and authority be delegated to the Director of Economic Development, in consultation with the Cabinet Member for Investment & Development, the Section 151 Officer and the Legal Officer, to conclude all legal agreements to complete the disposal strategy.

2)              the lift and shift obligation set-out at Confidential Appendix 2 and the development of a Full Business Case to determine a long-term car parking solution for the ISV site to be presented back to Cabinet for approval in advance of the first call-down of land by the appointed developer be noted.

3)              a soft market testing exercise be authorised to inform the further development of the Outline Business Case for the Energy Strategy to be presented back to a future meeting of Cabinet.