RUSHMOOR DEVELOPMENT PARTNERSHIP - UNION STREET, ALDERSHOT
To consider Exempt Report No. RP2008 (copy attached), which sets out the Rushmoor Development Partnership’s project plan in relation to the redevelopment of Union Street, Aldershot.
Presented By: Cllr Martin Tennant, Major Projects and Property Portfolio Holder
Additional documents:
Minutes:
The Cabinet considered Exempt Report No. RP2008, which set out the Rushmoor Development Partnership’s (RDP) project plan in
relation to the redevelopment of Union Street, Aldershot and other associated
matters.
Members were informed of the immediate work required at the site and also
of the impact of delays as a result of the Covid-19 crisis. Grant Thornton had
been appointed to assist officers in carrying out due diligence in respect of
the scheme. The Report set out a summary of the project plan, details of
delegations and funding and also the next steps required to progress the
delivery of the project plan. It was acknowledged that the scheme carried
significant risk to the Council but Members were supportive of the approach
proposed and considered that the regeneration of this site remained one of the
Council’s key priorities.
The Cabinet RESOLVED that
(i)
the scheme, as set out
in the appendix to Exempt Report No. RP2008, and the proposals by the RDP for
taking the scheme forward, be noted;
(ii)
the submission of the
planning application by the RDP be noted;
(iii)
the appointment of Grant
Thornton as the Council’s main consultant for due diligence and other advice in
relation to the scheme be noted;
(iv)
the appointment of
external solicitors to progress with the Agreement for Lease and associated
documents, using the provisionally agreed Head of Terms for the accommodation
set out in Appendix A to Exempt Report No. RP2008, be noted, with the advice of
the legal, property and financial due diligence processes being considered by
the Cabinet prior to finalising the lease;
(v)
the
Executive Head of Regeneration and Property, in consultation with the Major
Projects and Property Portfolio Holder, be authorised to negotiate terms with a
Register Provider in relation to a long lease for the affordable housing
elements within the scheme;
(vi)
the Corporate Manager – Legal Services, in
consultation with the Executive Head of Finance and the Major Projects and
Property Portfolio Holder, be authorised to enter into the grant funding
agreement with the Enterprise M3 Local Enterprise Partnership for the Union
Street, Aldershot project;
(vii)
the demolition of the development site to enable
redevelopment, following the securing of relevant land holdings, be approved,
with officers being authorised to proceed with the procurement of the
demolition contractor, with final approval of the said contract to be approved
by the Cabinet in line with financial regulations;
(viii)
capital funding of up to £100,000, to enable the
next phase of detailed design work to proceed, be approved; and
(ix) it be noted that the Chief Executive, following the receipt and consideration of the due diligence advice, will bring forward a further report to the Cabinet setting out options for the delivery of the scheme.