Issue - meetings

Report of the Director for Planning, Regeneration and Development. To be introduced by the Leader of the Council.] The report will seek  approval of  the business case for a Haringey Development Vehicle and procurement of a joint venture partner.

The Cabinet Member for Housing and Regeneration introduced the report which sought agreement to the establishment of a Development Vehicle for Haringey to deliver regeneration and achieve new housing, jobs and social and economic benefits for the borough. A business case was presented supporting this and approval was sought to commence a procurement process under the Public Contracts Regulations 2015 using the Competitive Dialogue procedure to procure an investment partner.

The Cabinet Member explained how important it was to take forward a social dividend scheme for Haringey residents and put forward the approval for developing a joint venture company to help the Council’s ambition for increasing jobs, and homes at a time when the Council did not have the financial resources to do this as a lone venture nor the wide range of skills and expertise needed for this future wide scale regeneration.

The report sought agreement to begin the procurement process for seeking a partner for the joint venture vehicle.

In response to Councillor Engert’s question, it was noted that new build projects under the joint venture vehicle would not have Right to Buy applied. However, given the current housing policy activities of the Government, an absolute assurance could not be provided that this policy would remain as is.

In response to Cllr Engert’s question about the inclusion of Wood Green Library site in the categories of assets to be included in the vehicle, it was noted that there was further consultation with residents in the next few weeks on the development of Wood Green.

The funding for the procurement of the partner would be met from the Urban Renewal reserves.

Following a vote of Cabinet Members  -

RESOLVED

1.    To approve the Business Case attached as Appendix A1, and as referred to in the exempt report, for the establishment of the ‘Haringey Development Vehicle’.

2.    To agrees that Option 6 as set out in paragraphs 7.40-7.42 of this report (the Overarching Vehicle) is the most appropriate structure for Haringey.

3.    To the commencement of a Competitive Dialogue Procedure under the Public Contracts Regulations 2015, to procure an investment partner, with whom to set up a vehicle as set out in Option 6, subject to this matter being brought back to Cabinet for the selection of the preferred bidder and approval of the final documentation as set out in recommendation 5 below.

4.    To provide delegated Authority to the Director of Regeneration, Planning and Development, after consultation with the Leader of the Council, to agree all documentation required to support the procurement process.

5.    To provide delegated Authority to the Director of Regeneration, Planning and Development, after consultation with the Leader of the Council, to deselect bidders, in line with the evaluation criteria, throughout the procurement process and to return to Cabinet for approval of the preferred bidder following the conclusion of the procurement process.

6.    That the list of properties or sites set out in paragraph 7.54 be included in the procurement as Category 1 Land owned by  ...  view the full minutes text for item 112