Agenda item

RESOLVED:

I.  That the scheme for Climate, Homes & Economy as set out in section 11 be given approval as follows:

Parks Equipment and Machinery 2022/23: Spend approval of £75k in 2022/23 is requested to purchase equipment and machinery to carry out maintenance to the borough’s parks.

II.  That the s106 scheme set out in section 12 be noted:

The s106/CIL board meeting dated 6 July 2022 considered the following bids for resource and spend approval.  As a result £643k (£404k in 2022/23 & £239k in 2023/24) of s106 capital funding will be spent in accordance with the terms of the appropriate s106 agreements.

III.  That the re-profiling of the budgets as set out in Section 13 be given approval as follows:

The capital programme is re-profiled twice each year to ensure that the budgets reflect changes in the anticipated development and progress of schemes within the approved programme.

IV.  That the capital programme adjustments as set out in Section 14 be given approval as follows:

Capital Programme adjustments are requested in order to adjust and reapportion the 2022/23 approved budgets to better reflect project delivery of the anticipated programme set out in Appendix 4.

V.  Authorise the Council to grant a lease or leases of up to 125 years in respect of the commercial unit at Tower Court shown for identification purposes only in the Appendices 1-3 edged in red.

VI.  Authorise the Group Director of Finance and Resources to negotiate and agree the commercial terms relating to the grant of the lease(s) of the commercial unit at Tower Court.

VII.  Authorise the Director of Legal, Democratic and Electoral Services  to prepare and sign the necessary legal documentation and any ancillary documentation required in order to implement the grant of the leasehold interest(s) in respect of the commercial unit at Tower Court.

VIII.  Authorise the grant of the lease(s)and that each lease disposal is compliant with S123 of the Local Government Act 1972.

REASONS FOR DECISION

The decisions required are necessary in order that the schemes within the Council’s approved Capital programme can be delivered and to approve the property proposals as set out in this report.

In most cases, resources have already been allocated to the schemes as part of the budget setting exercise but spending approval is required in order for the scheme to  proceed. Where, however, resources have not previously been allocated, resource  approval is requested in this report.

To facilitate financial management and control of the Council's finances.

Proposed Disposal of D1 commercial unit at Tower Court: The potential options for  the use of the space have been explored with colleagues in the Council’s Area  Regeneration, Planning, Strategic Property Services, Woodberry Down and Finance  Teams to establish the most appropriate option.  Use of the space for healthcare  purposes was explored with the Clinical Commissioning Group (CCG) but they  confirmed that they are not interested in using the space. The result of Hatzola  withdrawing from the contract is that the scheme finances are now short of the lease payment anticipated from that source and a letting on commercial terms is necessary to  help ensure the viability of this development and the overall Estate Regeneration  Programme. Feedback from the Council’s Strategic Property Services indicates that  there will be more appetite for the space if a basic fit out beyond shell and core is  undertaken. Given the nature and location of the space, a letting to a commercial  organisation is possible but demand may also come from local charitable or community based organisations. Obtaining Cabinet authorisation to enter into a lease or leases of up to 125 years will give the greatest flexibility in the marketing of the space for commercial use and increase the likelihood of securing a suitable provider for the space.