Larkhall Park Opportunity Sites development principles
Decision Maker: Cabinet Member for Planning, Investment and New Homes
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
There are three decisions that will be set out in
the forthcoming report:
1) For the council to package together three council owned land assets known as the Larkhall Park Opportunity Sites in order to procure a delivery partner to build approximately 100 homes along with employment and community space. This is considered the most expedient and best value delivery approach for the council in meeting priorities in the Borough Plan (2016-21).
2) For the delivery partner to be procured through an existing framework and that partnership being formalised through a Development Agreement. Using an existing framework is considered to be the most expedient way in which the council can achieve best outcome. Use of a Development Agreement will ensure that the council can maintain control over the site outcomes, specifically income (capital and revenue), the affordable housing offer and timelines of delivery.
3) For the income generation to be used, in whole or part, to support improved investment in Larkhall Park and other community services in the borough.
(1) To package together the three Council owned sites on the periphery of Larkhall Park, known as the Larkhall Park Opportunity sites (as set out in Appendix 1) as a single development opportunity with the Council retaining the freehold of all sites, and leasehold terms to be secured in a Development Agreement.
(2) To publish the procurement opportunity in the Official Journal of the European Union (OJEU)
(3) To agree that a Restricted Procedure is undertaken with the Development Agreement, included as part of the Invite to Tender (ITT) documents, which will be agreed under delegated authority by the Strategic Director Neighbourhoods and Growth.
(4) To agree that the final proportion of affordable housing within the scheme should be policy compliant i.e. 50% under a condition of grant funding or equivalent.
(5) To use a percentage of the development’s income (capital and/or revenue) for an improved maintenance and investment regime for Larkhall Park open space, and that this income, index-linked against inflation, be in place as a ‘long-term’ commitment.
(6) To allocate £50,000 from the Capital Feasibility Fund (Capital Reserve) to support the Investment and Growth team to manage the project through procurement up to the point that the Development Agreement goes unconditional, and for this money to be recovered from the residual value of the scheme.
(7) To note the figures as set out in Part II of this report.
Publication date: 01/09/2017
Date of decision: 11/09/2017
Effective from: 19/09/2017