Agenda item

Report of the Managing Director and the Director of Economic Growth and Neighbourhood Services.

The Cabinet Member with Resources Portfolio introduced the report of the Managing Director and Director of Economic Growth and Neighbourhood Services (previously circulated) informing Cabinet of the work undertaken by the promoter for land at Burtree Garden Village, amounting to approximately 178 Ha (439 acres) as shown shaded grey on the plan at Appendix 1; seeking Cabinet approval to sign a Memorandum of Understanding to grant an option or access rights to Homes England for the construction and adoption of a road over the Council’s land to facilitate the Burtree Garden Village Masterplan proposals as shown at Appendix 2; and seeking approval to acquire 29.95 Ha (74 acres) of land as shown hatched on the plan at Appendix 3,to the east of Faverdale East Business Park (FEBP) for employment use (all also previously circulated).

The submitted report outlined the background to the report; stated that before Homes England would commit to acquiring land, they wanted to ensure that access was available over the Council’s land, and requested that the Council enter a Memorandum of Understanding (MOU) confirming the Council’s intention to grant access rights; it was proposed that Homes England would fund the infrastructure to open up the site for development; stated that a Masterplan Visioning Document had been completed; and that the site had been designated Garden Village Status and was known as Burtree Garden Village.

RESOLVED – (a)  That the ongoing Masterplan work, as detailed in the submitted report, be noted.

(b)  That Delegated Authority be given to the Director of Economic Growth and Neighbourhood Services, in consultation with respective portfolio holders, to negotiate the Memorandum of Understanding, substantively in line with the terms as set out in Appendix 4 (Part III) of the submitted report, together with the necessary approvals and agreements required to facilitate the work as detailed in the submitted report.

(c)  That the Assistant Director Law and Governance be authorised to document and complete the grant of a licence and legal rights of access/or option over its land as envisaged by the Memorandum of Understanding at Appendix 4 (Part III) of the submitted report.

(d)  That the Director of Economic Growth and Neighbourhood Services be authorised to complete negotiations for the acquisition of the land to the east of Faverdale East Business Park on the terms set out in Appendix 5 (Part III) of the submitted report with the final price being reported to a future meeting of Cabinet on the schedule of transactions.

(e)  That the acquisition of land to the east of Faverdale East Business Park be funded from the Capital Investment Fund with the borrowing costs funded from existing Economic Growth resources until a capital receipt is achieved to repay the debt.

(f)  That the Assistant Director Law and Governance be authorised to complete the Memorandum of Understanding and associated legal agreements for the acquisition of land.

REASONS - (a)  To promote new development and Economic Growth.

(b)  To enable a decision to be made now on the Council’s position, so there is certainty on the direction of travel.

(c)  To facilitate future expansion of FEBP and ensure the availability of development land for employment related uses.