RECOMMENDED that Full Council amend the Capital Programme to resource Stage 3 and Stage 4 of the Marketfield Way project subject to stage 3 and Stage 4 meeting the financial parameters set out in the financial projections provided in the exempt report in Part 2 of the Executive agenda.
RESOLVED that:
(i) The progress in relation to land assembly, site preparation and the pre-letting of retail, leisure and residential components of the scheme be noted.
(ii) The Director of Finance and Organisation be authorised, in consultation with the Director of Place Services, the Executive Member for Property and Acquisitions, the Leader and the Deputy Leader, to progress Stage 3 and Stage 4 of the Marketfield Way project, in accordance with the strategy set out in the Executive reports dated 26 February 2015, 23 March 2017 and updates set out in this report, and bring forward the development, retaining the commercial elements and pre-selling the residential flats to a private rented sector operator/residential investor.
(iii) The Director of Finance and Organisation be authorised, in consultation with the Director of Place Services, the Leader, Deputy Leader and Executive Members for Finance and Property and Acquisitions, to progress the Marketfield Way project in accordance with the updated financial parameters set out in the exempt report in Part 2 (Option 1) of this agenda.
(iv) The Director of Finance and Organisation be authorised, in consultation with the Director of Place Services, the Leader, Deputy Leader and Executive Members for Finance and Property and Acquisitions to agree terms, seal and complete a construction contract or enabling contracts with construction contractors, subject to construction costs being in accordance with the updated financial parameters set out in the exempt report in Part 2 (Option 1) of this agenda.