Decision details

AGREED that Cabinet:

a)    note and welcome the progress on the LUF 3 projects:

Ollerton

b)      to add the requisite budget to the Council’s Capital Programme as detailed in the exempt Appendix to cover the full costs of the acquisition and ongoing holding of the former Lloyds Bank Building until such time as the building is absorbed into the delivery of the Ollerton Town Centre LUF 3 scheme;

c)      to require presentation to a future Cabinet of a final Business Case for the Ollerton Town Centre Regeneration, including updates on funding, risk, any Council commitments (capital and revenue), programme, delivery route (procurement) and a request to include the project within the Council’s capital programme;

d)       delegate to the Portfolio Holders for Strategy, Performance & Finance and Sustainable Economic Growth in consultation with the Director – Resources and Director - Planning & Growth, authority to negotiate and enter legal options to purchase in accordance with the requirements of the Council’s Acquisitions and Disposals Policy the land holdings required for the Ollerton Town Centre scheme (from Ollerton & Boughton Town Council and Johal Ltd) for the Maximum Offers detailed at Exempt Appendix A, subject to planning permission and a decision from Cabinet to implement the scheme.

e)        delegate to the Director - Resources, in consultation with the Director - Planning & Growth, Business Manager - Corporate Property and Portfolio Holders for Strategy, Performance & Finance and Sustainable Economic Growth, authorisation to negotiate and seek formal commitments from Nottinghamshire County Council to secure a financial commitment for the Minimum amount in Exempt Appendix A and Tesco to secure ongoing commitment to the Public Transport Hub and car parking provision for patrons of this development and the wider Town Centre.

Clipstone

f)         to require presentation to a future Cabinet of a final Business Case for the Clipstone Mansfield Road Regeneration project (Phases 2 and 3), including updates on funding, risk, any Council commitments (capital and revenue), programme, delivery route (procurement) and a request to include the project within the Council’s capital programme;

g)        delegate to the Portfolio Holders for Strategy, Performance & Finance and Sustainable Economic Growth in consultation with the Director – Resources and Director - Planning & Growth authorisation to negotiate and secure ongoing commitments from the Clipstone Miners Welfare Trust to ensure the District Council will have an ongoing role in the governance and management of any new Sports Facility associated with Phase 2 of the Mansfield Road Clipstone regeneration project;

h)       delegate to the Portfolio Holders for Strategy, Performance & Finance and Sustainable Economic Growth in consultation with the Director – Resources and Director - Planning & Growth authorisation to negotiate and seek formal commitments from Welbeck Estates for any land purchase or land swap to facilitate Phase 3 of the Mansfield Road Clipstone regeneration project, in accordance with the details provided at Exempt Appendix A; and

i)          to add to the Clipstone Road Mansfield budget an additional revenue of £250,000 to allow for further development of the Phase 2 and 3 projects through to RIBA Stage 3. The first £129,000 of this budget shall be funded by the Levelling Up Fund 3 Capacity Funded provided by Government with the residual drawdown (£121,000) being delegated to the Director of Resources & Deputy Chief Executive, in consultation with the Director for Planning & Growth upon receipt of LUF 3 funding from Government.