Issue - meetings

To consider a report by the Heads of Law, Property & Governance and Financial Services seeking approval to property transactions in accordance with the approved Masterplan for Sapley East.

  Authorised the Director of Central Services, after consultation with the Executive Councillors for Resources and Policy and for Finance, to approve terms for the land and related transactions required to achieve the Master Plan for development of land to the East of Sapley Square, Huntingdon.

Further to Minute No. 08/148, the Cabinet considered a report by the Heads of Law, Property and Governance and of Financial Services (a copy of which is appended in the Minute Book) which sought approval for a series of property transactions in accordance with the approved Master Plan for the development of land to the East of Sapley Square, Huntingdon.

In discussing the financial cost of the scheme, Members noted that the Council’s partner in the scheme, the Hunts Forum had submitted a bid for grant funding towards the development of the proposed community enterprise centre referred to in the plan. Having emphasised the need to ensure that the proposals do not incur any additional costs to the Council, the Cabinet

RESOLVED

  that the Director of Central Services, after consultation with the Executive Councillors for Resources and Policy and for Finance, be authorised to approve terms for the land and related transactions required to achieve the Master Plan for development of land to the East of Sapley Square, Huntingdon.

To consider and comment on a report by the Head of Law, Property and Governance on the Council’s landholdings in the Sapley East Masterplan area.

The Panel was acquainted by way of a report by the Heads of Law, Property and Governance and of Financial Services (a copy of which is appended in the Minute Book) with proposals for property transactions that would be required to achieve the approved Masterplan for Sapley East as part of the overall regeneration of Oxmoor.

Members were reminded that, following the outcome of public consultations on various options, the Cabinet had approved proposals for the development of land east of Sapley Square, Huntingdon. The property transactions identified in the report were required in order for the work, which formed the final phase of the regeneration, to be completed.  Members were advised that the Council had agreed that any income from its land interests in the area would be reinvested in Oxmoor.

It was reported that key elements of the scheme included the development of a Community Enterprise Centre (CEC) and redevelopment of parts of the Luminus site. For this to be achieved the two faith buildings on the site would have to be relocated and the site of the public house would probably have to be obtained. Members were informed that development would be phased to coincide with progress of the negotiations.

The Panel was advised that a part of a partnership agreement with the Council, Hunts Forum had submitted a bid for grant funding towards the CEC, which would comprise a learning centre, a furniture recycling initiative and meeting rooms and offices for community organisations. In response to a question concerning the viability of the centre should the bid be unsuccessful, Members were advised that failure of the bid was unlikely but that, should this occur, income from land sales could be used for the project or, subject to the returns achievable, borrowing would be considered. Alternatively, there would also be the option of delaying the project until land values increased. Following a further question, Members were informed that a service level agreement with Hunts Forum would be introduced for the use of the building. Having requested information on future plans for the bridge over Nene Road, it was

RESOLVED

  that the report be endorsed for submission to the Cabinet.