Agenda item

Property Acquisition and Regeneration, Wisbech

To consider the Acquisition and Regeneration of 11/12, High Street Wisbech.

 

Appendices A-G comprise exempt information - to exclude the public (including the press) from a meeting of a committee it is necessary for the following proposition to be moved and adopted: "that the public be excluded from the meeting for Items which involve the likely disclosure of exempt information as defined in the paragraphs of Part I of Schedule 12A of the Local Government Act 1972 (as amended) as indicated."

 

 

Minutes:

Councillor Oliver presented various options for consideration in connection with an important derelict town centre site, known as “11/12 High Street Wisbech”, which is considered a ‘high priority’ property, located within the Wisbech High Street Heritage Lottery Fund (HLF) project area, making the point that the report was one of the most complex and challenging matters that the Council had needed to consider for a number of years. He stated that grant aid is available from HLF, however, this is time limited and may be at risk if the required major refurbishment cannot be taken forward within the available timeframe, with completion being required by January 2021.

 

Councillor Oliver stated that there are various benefits including regeneration and delivery, but also financial risks and, therefore, Members need to decide the most appropriate way forward. The current owner is unable to move forward with the development or meet the deadline for the funding, and, therefore, the site would need to be purchased from the current owner. Officers have reached an in principle agreement with the owner for the purchase, together with procurement of draft designs, estimated costs, valuations and viability assessments.

 

Councillor Oliver advised there are now 4 possible options for consideration and if Members are minded to approve either option 1, 2 or 3, Cabinet will consider a separate report later today recommending approval for a Compulsory Purchase Order (CPO) to aid the purchase if required. He referred to the risk matrix that has been provided which includes the financial implications for each of the options proposed, explaining that it is important for Members to understand the risk and financial implications so that an appropriate decision can be agreed.

 

Councillor Oliver informed Members of the recommendation that was reached by Cabinet at its earlier meeting.

 

Members asked questions, made comments and received responses.

 

Members AGREED to

 

·         endorse the Cabinet recommendation for the approval of option 2 as contained in the confidential appendices and acquisition of the property as soon as practicable on the terms outlined;

·         note the need for Cabinet to approve, in principle, to make a Compulsory Purchase Order under Section 226(1)(a) of the Town and Country Planning Act 1990 (as amended)

·         delegate to the Chief Executive, Corporate Director (Growth and

Infrastructure) and Corporate Director (Finance) in conjunction with the Leader, Finance Portfolio Holder and Growth, Heritage and Community Safety Portfolio Holder to implement the preferred option and in particular

o   to enter into an agreement to purchase and subsequently acquire the site on the terms outlined, including the possibility of delisting the property.

o   to take all action necessary to transfer the property to the identified developer on terms that protect the delivery of the scheme and enable the drawdown of the relevant HLF grant.

 

(Members resolved to exclude the public from the meeting during the discussion of the recommendations for this item of business on the grounds that Appendices A-G involved the disclosure of exempt information as defined in Paragraphs 2 and 3 of Part 1 of Schedule 12A of the Local Government Act 1972.)

 

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