Meeting documents
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To approve the business case for the redevelopment project
Decision:
Cabinet received the report which sought approval for the final business case for the design and construction of the scheme. Planning consent had been granted for the redevelopment of the Gerrards Cross Police Station site for 34 apartments which would provide 20 private rent apartments and 14 affordable rent apartments – to meet the 40% affordable housing requirement. The proposal for the project cost was to be financed by way of a loan from the Public Works Loan Board. The business case indicated that the rental return on this development would be sufficient to repay the capital expenditure over the lifetime of the asset.
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RESOLVED that |
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1 |
the final business case for the project be approved.
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2 |
the total proposed spend of £8.331m, which would be funded from the current approved Capital Budget for this scheme be noted.
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3 |
the Head of Environment be authorised to conclude the delivery agreement between Wilmot Dixon and the Council for the construction phase.
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the Head of Finance be authorised to carry out the necessary arrangements to obtain the loan finance.
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the Head of Environment be authorised to negotiate and conclude any necessary agreements to allow the development to proceed through to completion and note that the Head of Environment has exercised his delegated authority to make an application to the Secretary of State for Transport for a stopping up order pursuant to Section 247 of the Town and Country Planning Act 1990.
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the Director of Resources be authorised to dispose of the development to Consilio (the Council’s wholly owned subsidiary). |
Report author: Chris Marchant
Publication date: 17/10/2018
Date of decision: 17/10/2018
Decided at meeting: 17/10/2018 - Cabinet
Effective from: 27/10/2018
Accompanying Documents:
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