Issue - meetings

Report of the Strategic Director of Place

Presented by the Leader

The Leader presented the report to Members.

He informed the Members of the purpose of the report, the work that had already gone into the project and the possible risks that could arise.

The Leader advised Members that the approval of the Chairman of the Council had been given to exempt the decision from call-in as the execution of the option agreement and ancillary documents was time critical and so any delay in making the decision could result in the investor’s acquisition and wider development of the area not occurring.

He noted the comments from the Community Scrutiny Committee and Local Ward Members, which were generally encouraging and supportive, although at the same time cautious and a little sceptical. He highlighted to Members the recommendation from the Committee to ring-fence any proceeds from the land to support regeneration of Coalville Town Centre. The Leader, however, felt that a considerable amount of capital budget had already been allocated to the regeneration of Coalville and therefore it would not be wise to ring-fence any potential capital receipt, but continue to support Coalville as set out in the 2019/20 Council Delivery Plan.

Councillor N J Rushton stated that he was opposed to ring-fencing in general and that with the amount that had already been put aside for the Coalville regeneration project he felt that ring-fencing further amounts could cause issues in other areas of the district. He also felt that with the projected borrowing need in 2022 the proceeds from the land sale could be used to meet that.

Councillor A Woodman asked that consideration be given by any new owner  to align with the Council the management of parking both in terms of price and enforcement.  Cabinet requested that the Strategic Director of Place pick this up separately with the future managers of the site and use best endeavours to work jointly on a joined up approach to parking. 

It was moved by Councillor R Blunt, seconded by Councillor N J Rushton and

RESOLVED THAT:

1.    The disposal of the land as described in the report be approved.

2.    Authority be delegated to the Strategic Director of Place in consultation with the Leader to approve the detailed terms of the land option agreement and ancillary documents and enter into a contract, provided that the market value for the land is achieved.

3.    Legal and other development costs of up to £100,000 to be met from unallocated earmarked reserves be approved and noted that each party will bear their own costs of entering in to the contract.

Reason for decision: Cabinet approval is sought for the disposal of Council land holdings adjacent to the area detailed in the report, which will facilitate an investor to purchase the area from the current owner with a view to redevelopment.