Agenda item

That Cabinet approve the following recommendations:

Ollerton

a)       to forward fund a £35,000 budget associated with the LUF 3 funding to enable ongoing timely delivery of programme work streams including legal costs. This budget can be financed by the Capital Feasibility Reserve in advance of the LUF3 MoU with government, at which time the costs can be moved to the approved Capital scheme and the reserve be replenished;

b)       to agree for £20,909,757 to be added to the capital programme alongside the existing Exempt Approved Budget previously agreed by the Cabinet on 26 March 2024 to acquire the bank, financed in accordance with proposed sources of funding in accordance with the financial implications set out;

c)        Note the financial gap of £832,758 that is included within the £20,909,757 above, and that this be financed by borrowing as detailed in the financial implications in the report;

d)       to provide delegated authority to the Portfolio Holders for Strategy, Performance & Finance in consultation with the Director - Resources, Director - Planning & Growth, Business Manager - Corporate Property and Portfolio Holder Sustainable Economic Growth, to approve the Green Book Final Business Case (FBC), subject to:

·      the project being within the approved Capital Program budget of £20,909,757, (alongside the existing previous Exempt budget to acquire the bank); and

·      receipt of £14,995,999 of LUF3 Grant; and

·      the value of the required land transfers (paragraph 3.6 of the report);

·      a £3m contribution from NCC; and

·      a £1.106m grant from the Brownfield Land Release Fund (BLRF)

e)       to authorise the Director – Resources to secure all tenants for the development, subject to commercial terms and any appropriate tenant incentivisation’s, subject to meeting budget detailed at b) and d) above;

f)         to 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 submit a planning application, subject to meeting budget detailed at b) and d) above;

g)        to delegate to the Director – Resources and S151 Officer, in consultation with the Director - Planning & Growth, authorisation, subject to securing planning permission, to enter into any S106 agreement with NCC (who will be the enforcing body), along with any other necessary legal requirements as part of the planning process, subject to meeting budget at b) and d) above;

h)       to delegate to the Portfolio Holder for Strategy, Performance & Finance in consultation with the Portfolio Holder Sustainable Economic Growth, the Director – Resources and Director - Planning & Growth, authority to purchase in accordance with the requirements of the Council’s Acquisitions and Disposals Policy the required land holdings from Ollerton & Boughton Town Centre and Johal Ltd), subject to budget at b) and d) above;

i)         to delegate to the Portfolio Holder for Strategy, Performance & Finance in consultation with the Portfolio Holder for Sustainable Economic Development, the Director – Resources and Director - Planning & Growth, authority to dispose of any commercial units to Johal Ltd upon landlord fit out in accordance with a jointly commissioned independent red book valuation, such a disposal to be legally agreed prior to appointment of a build contractor;

j)         to delegate to Director - Resources, in consultation with the Director - Planning & Growth, Business Manager - Corporate Property and Portfolio Holders for Strategy, Performance & Finance and Sustainable Economic Development, authorisation to continue to secure, subject to contract and meeting the approved budget detailed at recommendations b) and d) above, the main contractor through a public procurement framework; and

k)        to delegate to the Director - Resources, in consultation with the Assistant Director – Legal & Democratic Services, Director - Planning & Growth, Business Manager - Corporate Property and Portfolio Holders for Strategy, Performance & Finance and Sustainable Economic Development, authorisation to enter into any legal agreements required to secure and allow ongoing access for Heron Food.

Clipstone

l)         to request a budget of £5,784,424 to be added to the Council’s Capital Programme, financed by:

·      £417,212 S106 funding from Clipstone S106 (Open Space) contributions and £400,000 from the Councils committed 3G pitch provision within the Council’s already approved Capital Program towards Clipstone Phase 2;

·      LUF3 grant of £4,967,212 toward Clipstone Phases 2 and 3; and

·      LUF grant of £32,788 be allocated towards the separate scheme, Clipstone Holdings scheme (Phase 1).

m)     to 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 submit a planning application, subject to l) above;

n)       to delegate to the Portfolio Holders for Strategy, Performance & Finance in consultation with the Portfolio Holder for Sustainable Economic Development, the Director - Resources, the Director - Planning & Growth, and Business Manager - Corporate Property authorisation to conclude any land purchase required to complete the development (including land at Vicar Water Country Park and the former Clipstone Colliery Land) subject to red book valuation reports and the scheme remaining within the recommended budget at l) above;

o)       to increase the revenue budget by £121,000 in advance of the LUF3 MOU with Government to continue development of the scheme through forward funding from the Change Management Reserve. Upon receipt of the LUF3 MOU and receipt of grant, the costs can be moved to the approved Capital budget and the reserve replenished;

p)       to 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 Development, authorisation to acquire the existing Vicar Water Country Park freehold, as detailed at Appendix B to the report;

q)       note the previous March 2024 Cabinet 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 Clipstone regeneration project;

r)         to 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 Development, authorisation to enter into a procurement exercise via an appropriate public procurement framework for the appointment of a main contractor, subject to the approved budget at recommendation l) above;

s)        to authorise the Director – Resources to secure all tenants for the development, subject to commercial terms and any appropriate tenant incentivisation’s, subject to meeting the overall capital program budget at l) above; and .

t)         to provide delegated authority to the Portfolio Holders for Strategy, Performance & Finance in consultation with the Director - Resources, Director - Planning & Growth, Business Manager - Corporate Property and Portfolio Holder Sustainable Economic Development, to approve the Green Book Final Business Case (FBC), subject to budget detailed above at l).