Issue - meetings

To consider a report which sets out the strategic case for the establishment of a dedicated delivery vehicle for physical development and regeneration utilising strategic land assets of the Council to deliver growth

Consideration was given to a report from the Head of Development on a proposal to establish a dedicated delivery vehicle for physical development and regeneration utilising strategic land assets of the Council to deliver growth.

The delivery vehicle would be responsible for the accelerated development of Council owned assets and boosting delivery of developer led strategic sites. As a result the Council would continue to support the sustainable growth of the Borough and create an attractive proposition for securing greater private sector investment and development expertise into the area to ensure an even stronger focus on generating more jobs, more homes and more prosperity.

RESOLVED

To authorise the Interim Chief Executive or his identified nominee, in consultation with the Cabinet Member for Prosperity & Economic Regeneration, and subject to consideration by the Monitoring Officer and the Chief Financial Officer to:

·              invest up to £100,000, from existing Economic Development & Regeneration Earmarked Reserves, in independent legal and financial advice to review detailed options and ascertain the most appropriate and beneficial formal structure for the new Delivery Vehicle; and

·              establish a Shadow Board to oversee the delivery of the Development Programme in the short-term, and drive forward the new vehicle arrangements.