Issue - meetings

REOLVED to:

A. procure an Investment Partner, to act as Main Contractor or Developer, for the Council’s Building for Lewisham (BfL) major development projects as outlined in this report. Further approval will be sought from Mayor and Cabinet prior to entering into an overarching agreement with an Investment Partner (IP) as the delivery vehicle for current and future major projects.

B. Delegate authority to the Executive Director of Place, in consultation with the Executive Director of Finance, Digital and Corporate Resources and the Cabinet Member for Inclusive Regeneration and Planning, to bid for grant funding as required to assure delivery of the Achilles Street Regeneration Phases 1 - 3 and Thomas Lane Yard.

C. note that the Council has submitted a bid for additional funding (top up) for Achilles Estate regeneration from the London Estate Regeneration Fund (LERF) as outlined in Part 2 and if the bid is successful, delegate approval of the entry into the grant agreement to the Executive Director of Place in consultation with the Executive Director of Finance, Digital and Corporate Resources.

NOTED:

A. The progress of the Building for Lewisham (BfL) programme since July 2024 and the ongoing risks and market challenges that are impacting the delivery of the programme and the steps being taken to seek to address and mitigate them.

B. The impact of the changes announced in the Chancellor’s Budget to Right to Buy and the likely impact on the programme and schemes reliant on future receipts which will need to be reassessed due to potential funding gaps negatively impacting their viability.

C. The Investment Partner (IP) procurement will be in the form of a Competitive Procedure with Negotiation or Competitive Flexible Procedure to select a partner. The two schemes, Achilles Street Regeneration Phase 1 and Thomas Lane Yard, are to be used as part of the selection of an Investment Partner (IP), as the “contracting” element and other sites will be proposed for the “development” element.

D. The Investment Partner contract approach will enable individual call offs for pre-contract design services and for works. Each call off will be subject to sufficient capacity within the overall programme budget, viability parameters for each relevant phase or project, and relevant approvals required.

Having considered an open officer report and the corresponding closed report at Item 21, the Mayor and Cabinet moved, seconded and RESOLVED to:

A. Procure an Investment Partner, to act as Main Contractor or Developer, for the Council’s Building for Lewisham (BfL) major development projects as outlined in this report. Further approval will be sought from Mayor and Cabinet prior to entering into an overarching agreement with an Investment Partner (IP) as the delivery vehicle for current and future major projects.

B. Delegate authority to the Executive Director of Place, in consultation with the Executive Director of Finance, Digital and Corporate Resources and the Cabinet Member for Inclusive Regeneration and Planning, to bid for grant funding as required to assure delivery of the Achilles Street Regeneration Phases 1 - 3 and Thomas Lane Yard.

C. Note that the Council has submitted a bid for additional funding (top up) for Achilles Estate regeneration from the London Estate Regeneration Fund (LERF) as outlined in Part 2 and if the bid is successful, delegate approval of the entry into the grant agreement to the Executive Director of Place in consultation with the Executive Director of Finance, Digital and Corporate Resources.

D. Note the progress of the Building for Lewisham (BfL) programme since July 2024 and the ongoing risks and market challenges that are impacting the delivery of the programme and the steps being taken to seek to address and mitigate them.

E. Note the impact of the changes announced in the Chancellor’s Budget to Right to Buy and the likely impact on the programme and schemes reliant on future receipts which will need to be reassessed due to potential funding gaps negatively impacting their viability.

F. Note that the Investment Partner (IP) procurement will be in the form of a Competitive Procedure with Negotiation or Competitive Flexible Procedure to select a partner. The two schemes, Achilles Street Regeneration Phase 1 and Thomas Lane Yard, are to be used as part of the selection of an Investment Partner (IP), as the “contracting” element and other sites will be proposed for the “development” element.

G. Note that the Investment Partner contract approach will enable individual call offs for pre-contract design services and for works. Each call off will be subject to sufficient capacity within the overall programme budget, viability parameters for each relevant phase or project, and relevant approvals required.