Issue - meetings

That Cabinet:

a)         notes the updates associated with the LUF 3 programme including the revised name of ‘Local Regeneration Fund’, as detailed in 1.4 of the report;

Ollerton Project

b)         approves a budget to be added to the Council’s Capital Programme in 2025/26 to finance the acquisition of the Forest Centre unit, funded by UK Shared Prosperity Fund grant, and LUF 3 grant, in advance of securing planning permission and Full Business Case (FBC) approval, as noted in paragraphs 1.11 and 1.12 of the report.  In addition, a revenue budget of £40,000 was required to retain the unit until demolition. The full costings are contained within the Exempt Appendix;

c)          to delegate the finalisation and execution of the Agreement for Lease (and any other associated legal contracts required) with Ollerton and Boughton Town Council, in advance of securing planning consent, but upon completion of Heads of Terms, to the Director - Planning & Growth, as noted in paragraph 1.15 and 1.16 of this report;

d)         approves a commitment to the Change Management Reserve of £1,225,000 and £105,000 from Capital Receipts towards the Ollerton Regeneration scheme, in accordance with paragraph 1.17; and

e)         approves a budget of £682,746 to be added to the Capital Programme in 2025/26, financed by LUF 3 grant, to fund RIBA 4 activities, in advance of securing planning consent and finalisation of legals, but following FBC approval, as noted further in paragraph 1.20. 

The Economic Development Grants & Programmes Manager and Regeneration Project Delivery Manager presented a report which provided an update on the Sherwood Levelling Up Fund 3 programme and proposed key recommendations to enable the ongoing delivery of the Ollerton and Clipstone regeneration projects.

In respect of Ollerton it was reported that the regeneration scheme had progressed through RIBA Stage 3 Developed design stage, ready to submit for planning application in October 2025 following the full business case approval. The report referred to the acquisition of the Forest Centre and the involvement of Ollerton & Boughton Town Council in the project.

In respect of Clipstone, it was reported that the regeneration scheme continued to operate in 3 core phases, commercial units at the Clipstone Holdings site, an enhanced sports and leisure facility and an improved educational and visitor offering at Vicar Water Country Park. An update was provided on each of these phases.

AGREED      (unanimously) that Cabinet:

a)            notes the updates associated with the LUF 3 programme including the revised name of ‘Local Regeneration Fund’, as detailed in 1.4 of the report;

Ollerton Project

b)            approves a budget to be added to the Council’s Capital Programme in 2025/26 to finance the acquisition of the Forest Centre unit, funded by UK Shared Prosperity Fund grant, and LUF 3 grant, in advance of securing planning permission and Full Business Case (FBC) approval, as noted in paragraphs 1.11 and 1.12 of the report.  In addition, a revenue budget of £40,000 was required to retain the unit until demolition. The full costings are contained within the Exempt Appendix;

c)             to delegate the finalisation and execution of the Agreement for Lease (and any other associated legal contracts required) with Ollerton and Boughton Town Council, in advance of securing planning consent, but upon completion of Heads of Terms, to the Director - Planning & Growth, as noted in paragraph 1.15 and 1.16 of this report;

d)            approves a commitment to the Change Management Reserve of £1,225,000 and £105,000 from Capital Receipts towards the Ollerton Regeneration scheme, in accordance with paragraph 1.17; and

e)            approves a budget of £682,746 to be added to the Capital Programme in 2025/26, financed by LUF 3 grant, to fund RIBA 4 activities, in advance of securing planning consent and finalisation of legals, but following FBC approval, as noted further in paragraph 1.20. 

Reasons for Decision

To ensure Members are aware of the recent updates and developments associated with the LUF 3 programme, and to enable ongoing progression of the Ollerton scheme for delivery within potential Government timescales. Without access to further funding, there is an elevated risk that the project is unable to meet spend timescales detailed within this report.

Options Considered

It remains an option for the Council to refuse to accept any future grant towards the scheme or decide not to proceed with programme delivery. This approach is not recommended as it would represent a missed opportunity to deliver genuine and impactful transformative change in the communities of Ollerton and Clipstone.

Without the  ...  view the full minutes text for item 309