Issue - meetings

[To appoint the developer for the development of the former Tower and Fort Works site and to approve entering into the Development Agreement and associated legal agreements]

1.       That the sale of land at the former Tower and Fort Works, Pelham Street/Ashland Street site to Bouygues Development Thomas Vale Limited be approved and the Council enter into a Development Agreement along with associated agreements including deeds of covenant, collateral warranties and transfer relating to disposal of the Council’s land and the provision of written consent to any assignments and such other ancillary agreements as may be deemed necessary to execute the sale be approved.

2.       That the payment under the Development Agreement to Bouygues Development  Thomas Vale Limited in the sum of £2.4 million in relation to the construction of 19 units of Council housing to be funded from the Housing Revenue Account (HRA) be approved.

3.       That the transfer of the freehold interest of the land as shown on the plan appended to the report (edged red) in tranches, minus that planned for 19 Council housing units and in accordance with the Development Agreement be approved.

4.       That the expenditure of the public open space receipt of £80,000 from Bouygues Development Thomas Vale Limited to enable the Council to procure the enhancement of the children’s playground at Merridale Street West recreational ground be approved.

5.       That authority be delegated to the Cabinet Member for City Housing and Assets in consultation with the Director of Finance to appropriate the land for the council housing units from the general fund to the HRA.

6.       That it be noted that the addition of one Council housing rent unit, as following further discussions with Highways and Planning, the new proposed site layout would bring a total number of 19 Council units.

Cllr Peter Bilson outline the salient points of the report which consolidated and updated the recommendations of a number of Cabinet (Resources) Panel reports which had been produced and authorised over a number of years to provide clarity on the authority provided.  The report also provided an update following the completion of the land sale process and sought approval of the full funding for the scheme.

Resolved:

1. That the sale of land at the former Tower and Fort Works, Pelham Street/Ashland Street site to Bouygues Development Thomas Vale Limited be approved and the Council enter into a Development Agreement along with associated agreements including deeds of covenant, collateral warranties and transfer relating to disposal of the Council’s land and the provision of written consent to any assignments and such other ancillary agreements as may be deemed necessary to execute the sale be approved.

2. That the payment under the Development Agreement to Bouygues Development  Thomas Vale Limited in the sum of £2.4 million in relation to the construction of 19 units of Council housing to be funded from the Housing Revenue Account (HRA) be approved.

3. That the transfer of the freehold interest of the land as shown on the plan (edged red) in tranches, minus that planned for 19 Council housing units and in accordance with the Development Agreement be approved.

4. That the expenditure of the public open space receipt of £80,000 from Bouygues Development Thomas Vale Limited to enable the Council to procure the enhancement of the children’s playground at Merridale Street West recreational ground be approved.

5. That authority be delegated to the Cabinet Member for City Housing and Assets in consultation with the Director of Finance to appropriate the land for the council housing units from the general fund to the HRA.

6. That it be noted that the addition of one Council housing rent unit, as following further discussions with Highways and Planning, the new proposed site layout would bring a total number of 19 Council units.