Decision details

The Director - Planning & Growth presented a report which provided an update on the Newark Town Investment Plan (TIP) and sought approval for the appropriate budget to progress with feasibility work for the Council owned Great North Road Gateway Site.

In accordance with the Towns Fund guidance, the Newark TIP was formally submitted to the Government on 31 July 2020 which was the deadline for the first cohort. To date seven places within this first cohort had been announced. Following the submission of the TIP a number of qualifications had been provided to the Government who have been assessing the proposals. The Government were still to announce if the TIP was to be supported but it was hoped that the Council would secure significant investment.

The Director – Planning & Growth referred to the report considered by the Economic Development Committee at their meeting held on 18 November which provided an update on a number of TIP projects. The report to this Committee focused on the Great North Road ‘Gateway Site’ which was in the Council’s ownership.

In relation to the existing livestock market it was noted that a third party had confirmed they wished to progress with a new livestock market but not at the current site. The current site remained vacant and redundant. In the interests of reducing holding costs for the Council and preparing the site for redevelopment it was recommended that funds were made available to tender for the demolition and secure holding of the existing cattle market site.

In relation to the lorry park, if the Council were to consider any relocation, it will be necessary for feasibility work to be undertaken in order to understand the acceptability and costs of its relocation. This feasibility work would need to be progressed alongside feasibility work for the technical ability and capacity of the Gateway Site to accommodate a range of aspirations including the International Air and Space Training Institute. The projected costs for demolition of the existing cattle market and the feasibility works were detailed in a separate exempt report.

AGREED      (unanimously) that:

a)            the ongoing negotiations with Government to secure a capital contribution from the Towns Fund of up to £25mbe noted;

b)            the allocation of budget outlined in the exempt report to secure the demolition and secure holding of the existing Cattle Market site be approved;

c)             the allocation of budget outlined in the exempt report to undertake feasibility work on the relocation of the Cattle Market and Lorry Park to Newark Showground or other identified site(s) be approved; and

d)            the allocation of budget outlined in the exempt report to undertake feasibility work on developing the Newark Gateway Site (the exiting Cattle Market and lorry park), including the delivery of the Newark Town Investment Plan aspirations be approved.

Reason for Decision

To continue the development the Newark Towns Strategy and Investment Plan.