Agenda item

To consider Exempt Report No. REG2306 (copy attached), which sets out an update on regeneration in Farnborough town centre and seeks Cabinet approval on several matters.

The Cabinet considered Exempt Report No. REG2306, which set out an update on regeneration in Farnborough town centre and sought approval on several matters in relation to progressing capital projects in relation to the Civic Quarter and Block 3, The Meads.

The Exempt Report set out the latest position in relation to the Farnborough Civic Quarter and The Meads projects. The Cabinet supported the suggested approach to progress the regeneration of these key sites in Farnborough town centre.

The Cabinet RESOLVED that

(i)           the update in relation to the role of the Rushmoor Development Partnership joint venture and proposed next steps, as set out in Exempt Report No. REG2306, be noted;

(ii)          the drawdown against the Civic Quarter Capital Programme allocation for 2023/24 be approved as follows:

-              up to the sum stated in Exempt Report No. REG2306 to cover the scope of fees set out within paragraphs 3.6 and 3.7 of the Exempt Report to progress feasibility and pre-planning cost associated with the delivery of Plot 1 and the T-junction as part of the Civic Quarter masterplan

-              up to the sum stated in the Exempt Report to cover the scope of fees set out within paragraph 3.13 of the Exempt Report associated with meeting planning conditions for the Civic Quarter outline planning application/permission

-              up to the sum set out in the Exempt Report to cover the scope of fees set out within paragraphs 3.17 and 3.18 of the Exempt Report to progress initial feasibility associated with the delivery of Plot D and its associated infrastructure of the Civic Quarter masterplan

(iii)         the establishment of a capital budget of up to the sum set out in the Exempt Report to cover the scope of fees set out within  paragraph 3.20 of the Exempt Report to progress feasibility of development options with regard to Block 3 of The Meads be approved, with the budget being created through virement from the Civic Quarter Capital Programme allocation, with the release of the funds subject to a further delegated decision by the Executive Director, in consultation with the Major Projects and Property Portfolio Holder;

(iv)         the establishment of a revenue budget to enable additional procurement support to the capital programme, as set out in paragraph 3.22 of the Exempt Report, be approved;

(v)          the establishment of a Leisure and Cultural Hub Project Board, as set out in paragraph 3.25 of the Exempt Report, be approved;

(vi)         in noting the successful outcome of the bid for external funding towards enabling works, the Head of Regeneration and Development, in consultation with the Major Projects and Property Portfolio Holder, be authorised to enter into any formal agreements to be able to draw down funds;

(vii)        an initial allocation of up to the sum stated in the Exempt Report from the Shared Prosperity Fund, to fund meanwhile uses, community engagement and activities and events across the town centre over the coming eighteen months, be approved; and

(viii)       the progression with Homes England of the opportunity for external funding from the new Brownfield Infrastructure and Land Fund be noted.