Issue details

The Principal Development Agreement (PDA) for the regeneration of the Stonegrove and Spur Road Estates was approved by Cabinet on 18 June 2007 and was varied by a Deed of Variation on 25 March 2008.

Resolution 3 of the decision of Cabinet on 18th June 2007 stated that subject to the final terms of the Principal Development Agreement and legal arrangements being approved by the Cabinet Member for Regeneration and Development under Delegated Powers; that the necessary legal documentation be completed in order for the scheme to proceed.

Under the terms of the PDA with Barratt Evolution LLP Barratts the Council has entered into an agreement that BELLP can call for a Development Stage Works License (DSWL) to commence construction on each phase of the site until they reach a point where they can call for a drawdown of the land.

BELLP has called for a works licence for the final phases, 7 & 8, as shown on the attached plan 12369_05_29-A and this DPR requests authority to enter into the DSWL as required under the terms of the PDA.

There are no financial implications to granting this DSWL and all costs are recovered from Barratts under the terms of the PDA.