Cabinet
Tuesday, 25th June, 2019 7.00 pm - Agenda and minutes

Venue: Concorde Room, Council Offices, Farnborough

Contact: Chris Todd, Democracy and Partnerships  on 01252 398825 or e-mail:  chris.todd@rushmoor.gov.uk

Items
No. Item

15.

MINUTES pdf icon PDF 89 KB

To confirm the Minutes of the meeting held on 25th May, 2019 (copy attached).   

Minutes:

The Minutes of the meeting of the Cabinet held on 28th May, 2019 were confirmed and signed by the Chairman.

16.

RUSHMOOR DEVELOPMENT PARTNERSHIP - APPROVAL OF BUSINESS PLAN pdf icon PDF 169 KB

To consider Report No. CEX1904 (copy attached), which sets out the  Rushmoor Development Partnership’s first business plan for approval.

Presented By: Paul Shackley, Chief Executive

Additional documents:

Minutes:

The Cabinet considered Report No. CEX1904, which set out the first business/investment plan of the Rushmoor Development Partnership (RDP) for 2019/20.

 

Members were reminded that the establishment of the RDP had been agreed by the Council at its meeting on 4th October, 2018. It was considered that the business plan, also known in legal terms as the investment plan, was a significant document as it would establish the principles of business between the Cabinet and the RDP. The Report set out the latest situation in relation to the four sites that would be considered initially by the RDP, being

 

·                    Civic Quarter, Farnborough

·                    Union Street East, Aldershot

·                    Farnborough Main Car Park (also known as Union Street West)

·                    Parsons Barracks Car Park, Aldershot

 

It was confirmed that the process for progressing site developments was set out in the draft business plan. Members were informed that the governance arrangements for the RDP had been considered by the Licensing, Audit and General Purposes Committee at its meeting on 6th June, 2019 and it was felt that the proposed governance and management arrangements would be sufficiently linked to the Council’s democratic processes to provide assurance that the Council would not be exposed to unacceptable or unforeseen risks. The Cabinet would consider the site project plans as part of the approval process for the transfer of assets into the RDP and a briefing would be provided prior to any planning application being made.

 

Members considered the Report at length and asked many questions relating to the proposed business plan. Clarification was given in many areas, including that:

 

-               the RDP’s returns and profits, as set out in Exempt Section E of the proposed business plan, would be split equally between Hill Investments and the Council on the basis that each party would input equally;

 

-               infrastructure improvements would be considered as part of the project plans;

 

-               the governance structure was such that the Executive Head of Finance, acting as the Council’s Section 151 Officer, would remain sufficiently impartial as to be able to provide the Council with best advice in relation to risks attached to RDP proposals;

 

-               RDP proposals would consider other developments in the Borough, especially in terms of market values and demand;

 

-               the procurement policy of the RDP  was not the same as the Council’s but the options for using local contractors, suppliers and colleges (for training) were being reviewed;

 

-               there was significant interest in additional hotel provision in Farnborough;

 

-               the makeup of the Investment Team would be clarified in future reports;

 

-               the offer of ‘creative’ rent schemes, such as turnover rents, would be considered, within the RDP’s parameters of viability;

 

-               cross subsidisation between sites would be a feature of the RDP’s approach but that the level of cross subsidy would not be apparent until the detailed schemes had been worked-up;

 

-               members of the Cabinet would receive a written answer as to whether payment in full in respect of Suitable Alternative Natural Greenspace would need  ...  view the full minutes text for item 16.