Decision details

To seek approval and authorisations for land acquisition related to Temple Gate (formerly Temple Square) the purchase of Station Approach, and the Compulsory Purchase of the Grosvenor Hotel site.

Cabinet:

1.      Authorised the Executive Director Growth and Regeneration, in consultation with the Deputy Mayor for Finance Governance & Performance, and Section 151 Officer, to progress and finalise details for a Compulsory Purchase Order(s) for the comprehensive regeneration and development of the land shown edged red on the draft Order Map attached to this report as plan 2 of Appendix M, including the detailed recommendations for the progression of the Compulsory Purchase Order(s) within section 16 of Appendix A, which will be included on the recording form of the decision.

2.      Authorised the Executive Director of Growth & Regeneration, in consultation with the Deputy Mayor for Finance Governance and Performance and the Section 151 Officer, to take all actions necessary to draw down and spend up to £4m EDF grant funding secured from the West of England Combined Authority (subject to conditions) for the George and Railway project, and to procure and enter in to contracts over £500,000 as detailed in the exempt Appendix I.

3.      Authorised the Executive Director Growth and Regeneration, in consultation with the Cabinet Member Finance, Governance and Performance, to spend a capital budget of between £16.67m and £19.67m (including procuring and awarding contracts which may be over £500k) to enable the comprehensive regeneration of George and Railway, Temple Square 2 and Station Approach (subject to the full funding for Station approach being secured) as outlined in exempt Appendix I. This includes both the EDF funding of £4m and the CIL funding of £2.1m previously approved.

4.      Authorised the Executive Director Growth and Regeneration, in consultation with the Deputy Mayor for Finance Governance & Performance, the Chief Financial Officer and the Monitoring Officer, to finalise the details of and complete the Joint Development and Land Agreements with Skanska UK Ltd/Railways Pensions Nominees Ltd for the development and sale/commercial letting of the George and Railway and Temple Square sites to contribute to the comprehensive regeneration of Temple Quarter.

5.      Authorised the Executive Director Growth and Regeneration, in consultation with the Deputy Mayor for Finance Governance & Performance, the Chief Financial Officer and the Monitoring Officer, to exercise the Option under the Joint Development and Land Agreement with Skanska UK Ltd/Railways Pensions Nominees Ltd for the purchase of the Station Approach option land to contribute to the comprehensive regeneration of Temple Quarter and to undertake and complete all necessary legal processes to vest the legal ownership of Station Approach in the Council.

6.      Authorised the Executive Director Growth and Regeneration, in consultation with the Deputy Mayor for Finance Governance & Performance, the Chief Financial Officer and the Monitoring Officer, to work with Homes England and WECA to explore, secure, draw down and spend funding to secure the acquisition of the Station Approach option land by the public sector to include arrangements for the future governance and use of the site, noting that if the bid to secure external funding for the acquisition is successful any capital resources earmarked by the Council from its capital programme for the acquisition will be released back into the programme.