Issue details

Approval is sought to enter into a Deed of Supplemental Agreement to allow the parties to waive Conditions Precedent relating to highway stopping up order(s), so that the Regeneration Agreement becomes unconditional in respect of Phase 1 of the proposed regeneration scheme. This will avoid delaying the project unnecessarily, and allows the development partner to commence the development programme/demolitions for Phase 1.  This will also allow the Council to transfer the Phase 1 development land, and drawdown from its development partner a large proportion of the Minimum Council Land Value for Phase 1.