Decision Maker: Executive
Is Key decision?: Yes
Is subject to call in?: Yes
To provide an update on the progress of the Marketfield Way Project.
RESOLVED - that Executive:
(i) Note the progress that has been made to deliver Stage 4 of the project, in relation to scheme implementation, construction, residential sale and commercial lettings;
(ii) Note the initial economic, social and environmental benefits that have been derived;
(iii) Note the details set out in the Part 2 report;
(iv) Authorise the Head of Place Delivery, in consultation with the Leader, Deputy Leader and Executive Member for Finance & Governance, Executive Member for Place, Planning & Regulatory Services and Chief Finance Officer to settle the final account with the Council’s contractor VINCI Construction UK in line with the recommendations set out in Part 2 of this report;
(v) Approve the inclusion of £4,297,682 million Capital Programme growth for completion of the development, funded from prudential borrowing, in the final budget report to Executive on 1 February 2024.
Reason Key: Expenditure > £250,000;
Corporate Priorities : A great place to live and work.;
Wards Affected: (All Wards);
Contact: Peter Boarder, Head of Place Delivery Email: peter.boarder@reigate-banstead.gov.uk Tel: 01737 276201, Pat Main, Chief Finance Officer Email: pat.main@reigate-banstead.gov.uk Tel: 01737 276063.
Report author: Peter Boarder
Publication date: 18/12/2023
Date of decision: 14/12/2023
Decided at meeting: 14/12/2023 - Executive
Effective from: 28/12/2023
Accompanying Documents: