Agenda item

Report of Executive Director of Economy and Public Protection

The Cabinet Member with the Economic Portfolio and the Resources Portfolio introduced the report (previously circulated) of the Executive Director of Economy and Public Protection to update Cabinet Members on the outcome of the procurement exercise to seek a development partner for the redevelopment of key town centre sites and seek Cabinet approval to appoint the preferred bidder as detailed in Part III document to this report.

The report clarified that on the 11 June 2024 Cabinet gave approval in principle to enter an agreement with a private sector development partner to bring forward development on several town centre sites. Cabinet also requested that the details of the agreement, the list of town centre sites be presented at a future Cabinet meeting for approval.

The report explained that to select a development partner a robust procurement exercise had been undertaken, the outcome of this has concluded the selection of a preferred partner. The report also detailed that should Cabinet approve the appointment of the development partner, both parties will then enter discussions to determine the detailed terms of a development agreement, once the discussions are concluded, the completed development agreement will be presented to Cabinet for approval at a future meeting.

RESOLVED - (a) Cabinet agrees the appointment of the preferred development partner to bring forward development on several town centre sites.

(b) Cabinet agrees to receive the development agreement, including the final list of sites, for approval in November 2025. This is a target date and could be subject to change dependent upon the length of the discussion period.

REASON - (a) that appointment of the preferred developer will allow the council to proceed to the next stage in bringing forward key town centre sites for redevelopment.