Issue - meetings

To consider a report of the Executive Councillor (Economic Development & Regeneration)

This report sets out a regeneration strategy for the wider Market Place and Underbanks area, to create a vibrant retail, leisure and residential destination, focussed on the development of creative industries and specialist independent retail, with new residential development. The report also sets out proposals to invest in a rolling programme of measures in the area, including selected acquisition, redevelopment, refurbishment, letting and resale, coupled with public realm improvements, in order to drive delivery of the regeneration strategy.

The Executive are recommended to approve:

(i)        the regeneration strategy for the wider Market Place and Underbanks area

(ii)       the use of prudential borrowing to finance the proposed investment strategy as outlined in the attached report.

(iii)      delegating authority to the Corporate Director for Corporate and Support Services and the Corporate Director for Place Management and Regeneration in consultation with the Executive Councillor (Corporate, Customer & Community Services) and Executive Councillor (Economic Development & Regeneration) to:

·           progress with any necessary scheme and building design and, with the assistance of the Council’s Strategic Property Partner, proceed with the procurement of suitable contractors and partners to deliver the strategy;

·           settle the final terms of any occupational leases for the proposed tenants of the units (to include rent free periods and assistance with the costs of fitting out as deemed necessary to secure the appropriate tenant mix);

·           settle the final terms of any further acquisitions required to facilitate the strategy and, if acquisitions cannot be achieved by agreement, to authorise the making and service of a Compulsory Purchase Order;

·           agree the further procurement of consultants as may be required to deliver the scheme; and,

·           take any action needed to resolve any issues that may hinder the delivery of this strategy within the planned budget.

Officer contact: Nicola Turner, 0161-218-1635, nicola.turner@stockport.gov.uk

The Executive Councillor (Economic Development & Regeneration) submitted a report (copies of which had been circulated) inviting the Executive Meeting to consider a proposed strategic approach to the regeneration of the Market Place and Underbanks area of the Town Centre, including proposals for investment to support the regeneration strategy.

RESOLVED – That

·                the regeneration strategy for the wider Market Place and Underbanks area as detailed in the report be approved;

·                the use of prudential borrowing to finance the proposed investment strategy as outlined in the report be approved;

·                the Corporate Directors for Corporate and Support Services and for Place Management & Regeneration, in consultation with the Executive Councillors (Corporate, Customer & Community Services) and (Economic Development & Regeneration), be authorised to:

-           progress with any necessary scheme and building design and with the assistance of the Council’s Strategic Property Partner, proceed with the procurement of suitable contractors and partners to deliver the strategy;

-           settle the final terms of any occupational leases for the proposed tenants of the units (to include rent free periods and assistance with the costs of fitting out as deemed necessary to secure the appropriate tenant mix);

-           settle the final terms of any further acquisitions required to facilitate the strategy and, if acquisitions cannot be achieved by agreement, to authorise the making and service of a Compulsory Purchase Order;

-           agree the further procurement of consultants as may be required to deliver the scheme; and,

-           take any action needed to resolve any issues that may hinder the delivery of this strategy within the planned budget.

To consider a report of the Corporate Director for Place Management and Regeneration

The Scrutiny Committee is requested to comment on the regeneration strategy for the Market Place and Underbanks and proposals to invest in the area in order to drive delivery of the regeneration strategy, prior to their consideration by the Executive.

Officer Contact: Nicola Turner on 0161 218 1635 or email: nicola.turner@stockport.gov.uk

The Corporate Director for Place Management and Regeneration submitted a report (copies of which had been circulated) requesting the Scrutiny Committee to comment on the regeneration strategy for the Market Place and Underbanks, and the proposals to invest in the area in order to drive the delivery of the regeneration strategy, prior to its consideration by the Executive at its meeting on 30 September 2014.

The Executive Councillor (Economic Development and Regeneration (Councillor Patrick McAuley) attended the meeting to respond to Members’ questions.

The following comments were made/issues raised:-

·         A Member supported the proposals, but felt that the development of the Market Place and the Underbanks should have taken place many years ago. As set out in the Greater Manchester Town Centres Project report 2013, the Market Place and Underbanks were the key to delivering Stockport’s sense of place. This was based on the quality and uniqueness of the environment as well as its strategic position to the wider town centre.

·         Further details and a timescale for the programme would be submitted to a future meeting of the Scrutiny Committee should the Executive approve the regeneration strategy for the Market Place and Underbanks.

RESOLVED – That the Executive be advised that the Scrutiny Committee supports the regeneration strategy for the Market Place and Underbanks, and the proposals to invest in the area in order to drive the delivery of the regeneration strategy.