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Decision details

REGENERATION OF CHURCHGATE SHOPPING CENTRE

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decisions:

This report was considered following the presentation of the referral from Hitchin Committee, but prior to consideration of the Part 1 report (Minute 58 refers)

 

The Deputy Chief Executive presented the report in respect of the Regeneration of Churchgate Shopping Centre. The following appendices accompanied the report:

 

·                Appendix A - Report due to be considered by Council on 22 November 2018;

·                Appendix A - Report of BNP Paribas Real Estate;

·                Appendix B - Capital Viability Model;

·                Appendix C - Revenue Viability Model;

·                Appendix D - Financial Sensitivity analysis;

·                Appendix E - initial risk log prepared for LEP bid.

           

Detailed debate and questioning regarding the report took place with the following Members contributing:

 

·                Councillor David Levett;

·                Councillor Lynda Needham;

·                Councillor Julian Cunningham;

·                Councillor Bernard Lovewell;

·                Councillor David Barnard.

 

The Chairman agreed that Members present, who were not members of Cabinet could ask questions during the Part 2 debate, the following Members asked questions:

 

·                Councillor Judi Billing;

·                Councillor Ian Albert;

·                Councillor Paul Clark.

 

The Deputy Chief Executive and Mr Rob Williams, BNP Paribas responded to questions.

 

Councillor Cunningham proposed the following recommendation to Council:

 

“Cabinet recommends to Full Council that it notes that in light of the risks associated with the proposals, including the reliance on funding from the Local Enterprise Partnership, officers will urgently consider in more detail the alternative options in the event that the current proposals are unable to proceed; such alternative options to be reported to Full Council early 2019 if required.”

 

Upon the vote it was:

 

RESOLVED: That the content of the Part 2 Council report be noted.

 

RECOMMENDED TO COUNCIL: That, Full Council notes that in light of the risks associated with the proposals, including the reliance on funding from the Local Enterprise Partnership, officers will urgently consider in more detail the alternative options in the event that the current proposals are unable to proceed; such alternative options to be reported to Full Council early 2019 if required.

 

REASON FOR DECISION: The Council has been seeking to regenerate the Churchgate Centre for a number of years and a number of different proposals have been considered during that time, with none of those proposals progressing to a successful conclusion. The proposal currently being considered finds a solution to a number of the problems faced by previous proposals and would appear to be achievable in the short term. The proposals would also see significant investment in Hitchin Market and the public realm. The Council’s potential investment in this regeneration opportunity is also expected to provide a reasonable financial return. The initial proposals received significant public support when they were consulted on in March/April 2018.

Publication date: 15/12/2018

Date of decision: 20/11/2018

Decided at meeting: 20/11/2018 - Cabinet

Accompanying Documents:

 

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