Issue - meetings

This report provides an update on progress since February 2018 and details the budget to progress the redevelopment up to and including the submission of planning permission.  This report provides an update on progress since February 2018 and details the budget to progress the redevelopment up to and including the submission of planning permission

Note:  This item of business was brought up the Agenda with the consent of the meeting, there being a member of the public in attendance for this particular item.

The Committee:

(1)          Approved an additional budget of £68,000 to cover all the costs in connection with the submission of a planning application for the Wells site;

(2)          Agreed that the £68,000 be funded from the Corporate Reserve;

(3)          Agreed to a report being brought back to September 2018 Strategy and Resources Committee with an update on progress.

Note:  This item of business was  taken up the Agenda running order with the consent of the meeting, there being a member of the public in attendance for this particular item.

The Committee received a report that provided an update on progress since February 2018 on the future of this site and details of the budget necessary to progress its redevelopment up to and including the submission of planning permission.

The report stated that it was anticipated that the draft development brief would be available by September following which consultation would take place with local residents. However, it was re-iterated that a decision had already been taken on the size of the community facility to be included in the redevelopment. Officers anticipated a planning application being submitted for a scheme by the end of the year.

An existing sum of £92,000 had already been approved to cover the work of the professional team.  The additional sum sought (£68,000) was considered reasonable to cover all the costs associated with the submission of a planning application and could be met from the Corporate Projects Reserve, which stood at £2,574,390 as at 30 June 2018.

The development of the site had the potential to deliver a long-term residential asset with associated income streams.  However, the viability of the development and its long-term financial impacts could only be accurately established once the professional advice and full due diligence exercises had been undertaken. 

Accordingly, the Committee:

(1)          Approved an additional budget of £68,000 to cover all the costs in connection with the submission of a planning application for the Wells site;

(2)          Agreed that the £68,000 be funded from the Corporate Reserve;

(3)          Agreed to a report being brought back to September 2018 Strategy and Resources Committee with an update on progress.