322 Besson Street PRS Development Part 1 PDF 55 KB
Additional documents:
Decision:
Having considered both an open and a confidential officer report, and a
presentation by the Cabinet Member for Housing, Councillor Damien Egan,
the Mayor agreed that:
(1) the progress in developing an outline proposal for new homes, health
and community provision on the development site at Besson Street be noted;
(2) the options for developing the site, including the commercial and legal
advice, and the views of participants in a soft market testing exercise,
contained in the confidential section be noted;
(3) the principle that the site should be developed through a Joint
Venture Partnership between the Council and an experienced private sector
Partner be approved, subject to further detailed due diligence in that regard;
(4) further decisions be required to finalise the arrangements
proposed, including approvals for the structure and governance of the
Joint Venture Partnership, and the proposed approach to selecting an
investment partner and that a further report be brought back to Mayor and
Cabinet in the spring of 2016.
(5) authority be delegated to the Executive Director for Customer Services to
develop proposals for a ‘meanwhile’ use of the site for the commercial
elements at the northern end of the site.
(6) the confidential financial and commercial advice provided to date be noted;
(7) the proposed project budget as set out in the confidential section be
approved.
Minutes:
The Executive Director for Customer Services representative reported a
further public consultation had taken place the week before and the proposals
had received a much better reception.
Having considered both an open and a confidential officer report, and a
presentation by the Cabinet Member for Housing, Councillor Damien Egan,
the Mayor for the reasons set out in the report:
RESOLVED that:
(1) the progress in developing an outline proposal for new homes, health
and community provision on the development site at Besson Street be noted;
(2) the options for developing the site, including the commercial and legal
advice, and the views of participants in a soft market testing exercise,
contained in the confidential section be noted;
(3) the principle that the site should be developed through a Joint
Venture Partnership between the Council and an experienced private sector
Partner be approved, subject to further detailed due diligence in that regard;
(4) further decisions be required to finalise the arrangements
proposed, including approvals for the structure and governance of the
Joint Venture Partnership, and the proposed approach to selecting an
investment partner and that a further report be brought back to Mayor and
Cabinet in the spring of 2016.
(5) authority be delegated to the Executive Director for Customer Services to
develop proposals for a ‘meanwhile’ use of the site for the commercial
elements at the northern end of the site.
(6) the confidential financial and commercial advice provided to date be noted;
(7) the proposed project budget as set out in the confidential section be
approved.