Issue details
Town Centre Regeneration – Merseyway Redevelopment - Strategic Property Redevelopment
PDF 49 KBDirect support for the acquisition and redevelopment of a key site within Merseyway shopping centre in line with the approved Merseyway redevelopment strategy.
Justification for General Exception:
A decision is needed urgently in order to progress redevelopment proposals with a private sector partner before the expiry of an exclusivity period in which the Council has influence over the site in question.
The opportunity to definitively progress this element of the Council’s Merseyway Redevelopment strategy has come about as a result of recently increased interest in the site. It was therefore not possible to comply with the 28 Key Decision notice period (’Forward Plan’) that a decision was likely to come forward.
If a decision cannot be taken at April Cabinet then it will not be possible to progress the redevelopment scheme and the Council’s exclusivity period over the site in question will expire. This would lead to the open marketing of the property and an increase in the risk set out in the report of the market bringing forward a solution to the property which is not in keeping with the Council’s overall redevelopment ambitions for Merseyway and the wider town centre.
Decision type: Key
Decision status: Recommendations Approved
Wards affected: Brinnington & Central;
Notice of proposed decision first published: 11/04/2019
This decision will be taken under urgency procedures.
Reason for urgency:
The report needs to be considered at the meeting of the Cabinet on 23 April in order to allow redevelopment proposals as set out in the report to be progressed. Delay to the decision would impact upon the Council’s ability to negotiate with third parties over the future of a strategic site within Merseyway and negotiate future lettings.
Anticipated restriction: Fully exempt - View reasons
Explanation of anticipated restriction:
The report contains information 'not for publication' in the main report and appendices, the disclosure of which would not be in the public interest and may prejudice the Council in negotiations for goods and services.
Lead member: Cabinet Member for Economy & Regeneration
Department: Services to Place
Contact: Paul Richards, Director of Development and Regeneration Email: paul.richards@stockport.gov.uk Tel: 0161-474-2940.
Forward Plan Reference: General Exception Notice
Relevant Scrutiny Committee for the purpose of call-in: Exempt from call-in
Decisions
Agenda items