Issue - meetings

Bunns Lane Car Park Proposed Approach to Site Disposal

Meeting: 13/09/2021 - Housing and Growth Committee (Item 14)

14 Bunns Lane Car Park Proposed Approach to Site Disposal pdf icon PDF 858 KB

Minutes:

The Chairman introduced the report which set out the proposal for the council to enter into a commercial arrangement in respect of the Bunns Lane Car Park, with a developer/annuity funder that delivers social and environmental improvements to Mill Hill and supports the economic prosperity of Mill Hill and the wider borough.

 

Some members raised concerns around developers adhering to planning conditions and wanted to flag this up to officers. The Chairman noted the concerns and officers advised that full engagement and consultation with local residents would be held, this would allow the opportunity for any concerns to be raised and mitigations incorporated at the relevant stage.

 

Following consideration of the item, the Chairman, seconded by Councillor Wardle, moved the motion to amend recommendation 6 to state that ‘That subject to planning permission being received for the development, that the approval of the final red book valuation for the site be brought back to a future meeting of the Housing ad Growth Committee.’

 

Votes on the amendment were recorded as follows

For

6

Against

0

Abstain

4

 

RESOLVED that recommendation 6 be amended to the wording outlined above.

 

The Chairman then moved to vote on the recommendations as outlined in the officers report, including the amendment to recommendation 6.

 

The votes were recorded as follows:

For

6

Against

0

Abstain

4

 

 RESOLVED that the Committee:

1) Noted progress to date in respect of the proposals for the development of the Bunns Lane Car Park (“the Site”) delineated at Figure 1 paragraph 1. below.

 

2) Approved the proposed Sale and Leaseback approach to the development of the Site.

 

3) Approved Muse Developments Limited as the preferred developer for the delivery and sale and leaseback approach on this Bunns Lane Car Park Site. 

 

4) Delegated authority to the Deputy Chief Executive acting in the best interests of the Council and in consultation with the Chairman of the Housing and Growth Committee to: -

a.    agree the final terms for the proposed transaction.

b.    negotiate finalise and complete the terms of the required documentation to be entered into with Muse Developments Limited and the annuity funder to give effect to the agreed terms as referred to in this report.

c.    to negotiate, approve, finalise, and complete such other documents as may be required to effect implement fund deliver and/or manage the scheme.

d. approve and conclude the exchange of an Agreement for Lease and Leaseback to be entered into with Muse Developments Limited subject to such agreement being compliant with the Council’s statutory obligation to obtain the best price reasonably obtainable as evidenced by an independent valuation.

 

5) 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 8.b).xi).  Both of these are subject to approval from the Policy and Resources Committee.

 

6) That subject to planning permission being received for the development, that  ...  view the full minutes text for item 14