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Issue - meetings
Development Opportunities on Churchfields Estate
Meeting: 04/03/2019 - Cabinet (Item 165)
Development Opportunities on Churchfields Estate - (Part 2 Report)
Additional documents:
- Restricted enclosure 2
Minutes:
RESOLVED that the public be excluded from the meeting during the, consideration of the items of business listed below because it is likely that if members of the public were present there would be disclosure to them of “exempt” information as defined in the paragraphs of schedule 12A to the Local Government Act 1972 referred to in the relevant report.
The Assistant Director Financial Services and Revenues presented a report to agree the inclusion of the “Sidney Little Road Business Incubator Hub” within the capital programme subject to the receipt of grant funding. A decision is expected on or around the 8th March 2019. The report further highlights the current funding requirements in order to develop the remaining two sites on Council owned land and includes details of the potential developments that are being proposed.
Councillor Chowney proposed approval of the recommendations of the Assistant Director’s report for both agenda items 11 and 12. This was seconded by Councillor Patmore.
RESOLVED (unanimously) that:
1. To agree the inclusion of the Sidney Little road Business Incubator Hub within the Capital programme with an estimated budget, including fees of £2.8m.
2. To seek external funding for the shortfalls, and/ or negotiate options with interested parties, based on the potential unit sizes.
(i) Plot 2 - 35 Sq ft factory unit(ii) Plot 3 - 3 to 8 Factory units (flexible sizes)
3. Cabinet to note the potential Capital expenditure of £10m in total for the 3 sites should viable proposals be received or external funding bids be successful.
Reasons for the decision:
The land is allocated for employment use in the Development Management Plan (DMP). The site is in the Council’s ownership and offers opportunities for development. The schemes are sufficiently worked up to identify funding shortfalls and seek external grants, undertake negotiations to develop the sites.
Should external funding be received there is a ready made opportunity to help address unemployment and improve the economic opportunities for companies within the town, in line with Corporate Plan objectives.
The Council expects to learn the outcome of an external funding bid in early March 2019 and needs to be ready to progress the development of the site – should the Cabinet agree to make funding available.
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