Issue - meetings

As per item 8.

As per item 8.

Report by the Assistant Director for Regeneration and Economic Development and the Assistant Director for Capital Projects and Property. To be presented by the Cabinet Member for Council House-Building, Placemaking, and Development.

This report sets out a delivery approach for the Wards Corner site in Seven Sisters and seeks approval to acquire a number of third party land interests within the site, including those held by Grainger Seven Sisters Limited which are subject to the option in favour of the Council, and where necessary make use of the existing Compulsory Purchase Order.

The Cabinet Member for Council House-Building, Placemaking, and Development introduced the report which set out a delivery approach for the Wards Corner site in Seven Sisters and sought approval to acquire a number of third party land interests within the site, including those held by Grainger Seven Sisters Limited which are subject to the option in favour of the Council, and where necessary make use of the existing Compulsory Purchase Order.

It was noted that the proposal would provide an opportunity to deliver workspace, would provide confidence for retailers about the future of the site, and would allow for the provision of new council homes.

It was highlighted that a minor correction was required in relation to Appendix 7 of the report. The key referred to ‘Community Plan’ land but it was noted that this should state ‘TfL owned land’.

In response to questions from the Cabinet, the following responses were provided:

-       It was clarified that the main difference between Option 1 and Option 3, as set out in the report, was the timescale. Option 1 proposed a short term comprehensive approach where all works would be undertaken in one part. Whereas Option 3 provided an option to deliver parts of the site at different times; this acknowledged that some figures, such as land acquisition costs, improved over time and was considered to provide longer term opportunities for placemaking and co-production.

Following consideration of the exempt information, it was

RESOLVED

1.    To approve the Option 3 - alternative council led delivery approach to the Wards Corner site (as set out in paragraphs 5.15 to 5.24 of this report) and the site objectives which will guide this approach (as set out in paragraph 4.11 of this report).

2.    To acquire for planning purposes the third-party property and land interests shown coloured pink on the Site Acquisition Plan attached at Appendix 1, all within the Wards Corner site shown edged red on the Site Plan attached at Appendix 2; and

3.    To the termination of the Development Agreement dated 3rd August 2007 (as amended by the Supplemental Agreement dated 23rd January 2015) for the reasons set out in paragraph 8.11 of this report, and to acquire for planning purposes the entirety of Grainger Seven Sisters Limited’s property and land interests in the Wards Corner site (as set out in the schedule at Appendix 3 in Part B of this Report) by exercising the option contained within the Development Agreement for a total sum set out in Part B of this report; and

4.    To acquire for planning purposes any remaining third-party property and land interests as set out in the schedule at Appendix 3 in Part B of this report, by serving the requisite CPO General Vesting Declaration notices or by agreement with third parties on this site for a total sum set out in Part B of this report.

5.    To approve a budget for these acquisitions being a total sum set out in Part B of this  ...  view the full minutes text for item 8