Decision details

Cabinet Member for Homes and Regeneration, Councillor Ross Houston introduced the report.

Following discussion, the Chair moved to vote on the recommendations.

DECISION:

It was RESOLVED:

1.    That Cabinet approved the Stories (Bunns Lane) Ltd & Aviva Capital Partners ltd joint venture as the preferred developer for the delivery of the sale and leaseback arrangement on the Bunns Lane Car Park site.

2.    That Cabinet delegated authority to the Deputy Chief Executive of the Council and in consultation with the Cabinet member for Homes and Regeneration to:
a. agree the final terms for the proposed transaction.
b. approve and conclude the exchange of an Agreement for Lease and Leaseback to be entered into with the Stories & ACP joint venture.
c. to negotiate, approve, finalise, and complete such other documents as may be required to effect implement fund deliver and/or manage the scheme.

3.    That Cabinet agreed to the creation of a management company (ManCo) by the Council for the ongoing management of the completed units at the Site and to enter into the proposed sub underlease with the Council as outlined at paragraph 1.30.

4.    That Cabinet:
(i) approved the advertising as required to appropriate to the required use or to appropriate to planning purposes any part of the Site deemed or designated as Public Open Space in accordance with S122(2A) of the Local Government Act 1972; and
(ii) delegated to the Deputy Chief Executive the consideration of any objections received following the conclusion of the above advertising process.

5.    That Cabinet approved the advertising as required to dispose of any part of the Site deemed or designated as Public Open Space in accordance with Section 123 of the Local Government Act 1972 or section 233 of the Town & Country Planning Act 1990 as appropriate and delegated to the Deputy Chief Executive the consideration of any objections received following the conclusion of such advertising process.

6.    That Cabinet delegated to the Deputy Chief Executive if appropriate following the conclusion of the consideration of any objections to the advertising required pursuant to S123(2A) of the LGA 1972, or S233 of the Town and Country Planning Act 1990 authority to dispose of any land referred to at (Recommendations) 4 and 5 above which is to be comprised as part of the Site.

7.    That Cabinet delegated authority to the Deputy Chief Executive to authorise that the whole or any part of the Site as may be required be appropriated for planning purposes pursuant to S122 of the LGA 1972 and to commence negotiations and settle any lawful claims asserted by third parties pursuant to SS 203 and SS 204 of the Housing and Planning Act 2016.

8.    That Cabinet delegated authority to the Deputy Chief Executive to make any applications to the Secretary of State for consent that may be required to enable the lawful disposal of the Site.

9.    That Cabinet delegated authority to the Deputy Chief Executive in consultation with the Cabinet member for Regeneration and Growth to make minor alterations to the extent of the Site as appropriate provided with the above recommendations to apply to the Site as altered.

10.That Cabinet delegated authority to the Deputy Chief Executive to take all and any such actions as may be required to give effect to the recommendations to secure the sale of the Site including the termination of any extant parking arrangements.

The report set out the options considered, if any, and the reasons for the recommendations and the decision.