Decision Maker: Babergh Cabinet
Decision status: Recommendations approved
Is Key decision?: Yes
Is subject to call in?: Yes
Resolve final scheme/costs plan and asset use approvals
It was RESOLVED: -
1.1 That Cabinet noted progress, since its last meeting of 08 July 2022, on refinement of an optimal scheme layout and design to support the Council’s regeneration priorities. Further, that Cabinet notes the updated order of costs estimate and viability assessment (attached as Confidential Appendix A).
1.2 That Cabinet authorised the Director for Economic Growth and Climate Change to conclude an optimal scheme design and layout, based upon occupier and local marketing intelligence gathered, and proceed to submit a planning application during early 2023.
1.3 That Cabinet approved the draft Heads of Terms lease agreement for the office unit (with associated parking and service areas) identified in Confidential Appendix B, and with the tenant identified within that draft agreement.
1.4 That Cabinet delegated to the Director for Economic Growth and Climate Change the authority to agree or vary the final terms for the lease agreement of the land shown in Confidential Appendix B.
1.5 That Cabinet approved the substituted bid terms of offer for the freehold transfer of the A1 use-class convenience retail/drive-thru unit identified in Confidential Appendix C, and as being the best consideration reasonably obtainable.
1.6 That Cabinet delegated to the Director for Economic Growth and Climate Change the authority to agree or vary the final terms for the freehold disposal of the land shown in Confidential Appendix C. Further, that the Director for Economic Growth and Climate Change be delegated authority to accept a substitute bid received on the same or similar terms, in the event this latest sale agreement does not proceed.
1.7 That Cabinet authorised the Director for Economic Growth and Climate Change to proceed with marketing for the Light Industrial (B1 use class) units.
REASON FOR DECISION
The Council has secured a small parcel of employment land which it can directly invest in to address market failure and develop as a viable scheme to provide needed workspace, employment opportunities and support for the local community of Hadleigh and surrounding area.
Alternative Options Considered and Rejected:
Any Declarations of Interests Declared: None
Any Dispensation Granted: None
Report author: Lee Carvell
Publication date: 07/12/2022
Date of decision: 05/12/2022
Decided at meeting: 05/12/2022 - Babergh Cabinet
Effective from: 15/12/2022
Accompanying Documents: