Heathside and Lethbridge Phases 5 & 6 Land Assembly
Decision:
Having considered a confidential officer report, and a presentation by the
Mayor, the Mayor and Cabinet agreed that:
(1) the disposal and development of the Council’s freehold interest in the
Phase 5 and Phase 6 sites shown by outline on an attached plan to Peabody
in accordance with the overarching Development Agreement be approved;
(2) authority be delegated to the Executive Director for Resources and
Regeneration, in consultation with the Executive Director for Customer
Services and Head of Law, to agree the bespoke financial model for Phase 5
and Phase 6;
(3) the final land assembly costs for Phase 5 be noted and an increase to the
Phase 5 budget by a stated amount be approved on the basis that these costs
will be reimbursed in full by Peabody on transfer of the Phase 5 site; and
(4) the current land assembly costs for Phase 6 be noted and an increase to
the Phase 6 budget by a stated amount be approved, on the basis that costs
incurred at the time of the transfer will be reimbursed in full by Peabody on
transfer of the Phase 6 site with any further costs being reimbursed
subsequently;
Minutes:
Having considered a confidential officer report, and a presentation by the
Mayor, the Mayor and Cabinet for the reasons set out in the report by a vote of 6-0:
RESOLVED that:
(1) the disposal and development of the Council’s freehold interest in the
Phase 5 and Phase 6 sites shown by outline on an attached plan to Peabody
in accordance with the overarching Development Agreement be approved;
(2) authority be delegated to the Executive Director for Resources and
Regeneration, in consultation with the Executive Director for Customer
Services and Head of Law, to agree the bespoke financial model for Phase 5
and Phase 6;
(3) the final land assembly costs for Phase 5 be noted and an increase to the
Phase 5 budget by a stated amount be approved on the basis that these costs
will be reimbursed in full by Peabody on transfer of the Phase 5 site; and
(4) the current land assembly costs for Phase 6 be noted and an increase to
the Phase 6 budget by a stated amount be approved, on the basis that costs
incurred at the time of the transfer will be reimbursed in full by Peabody on
transfer of the Phase 6 site with any further costs being reimbursed
subsequently;
The meeting closed at 6.52pm