Issue - decisions

The Portfolio Holder introduced the report which set out a proposal to enter into an agreement with Stanhope PLC to bring their development rights for all remaining phases to an end. The Development Agreement (DA) with Stanhope PLC was in place when the site was purchased from the Homes and Communities Agency (now Homes England) in 2015. All phases of the development, of which there were currently three, were subject to the rights and obligations of this agreement. The report sought authority for Cabinet and Council to negotiate the termination of the rights of Stanhope PLC under the DA and bring the unfettered site solely within the Council’s control.

Recommended:

That    (i)         due diligence be completed to the satisfaction of the Chief       Executive, in conjunction with the Leader of the Council and the      Portfolio Holder.

(ii)        Officers negotiate the termination of the development agreement with Stanhope PLC, releasing them from their obligations for the remaining phases up to a maximum cost as set out in Exempt Appendix A to the report.

(iii)       the use of the undeveloped land be approved in the short term as a temporary car park, once the termination agreement has been completed.

(iv)       the capital cost of extending the current car park boundary of £200,000 be agreed.

(v)        the Director of Law and Governance be authorised, in conjunction with the Head of Corporate Property and Projects, to execute and complete all necessary documentation to give effect to the above.