Decision details

The Executive Meeting considered an update on the Bridgefield regeneration project and proposals for delivering the next steps, and has agreed that

(i)            approval be given to the use of prudential borrowing to finance the development at Bridgefield.

(ii)          the acquisition of 42 Princes Street be approved upon the terms contained in the confidential Appendix 2.

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

·           progress with the building design and, with the assistance of the Council’s Strategic Property Partner, proceed with the procurement of suitable contractors to deliver the project;

·           to settle the final terms of occupational leases for the proposed tenants of the units;

·           agree any necessary commercial arrangement for the  management of the new multi storey car park and existing Merseyway car parks;

·           re-gear of the lease with Debenhams; 

·           to settle the final terms of any further acquisitions required to facilitate the Bridgefield scheme and, if acquisitions cannot be achieved by agreement to report back to the Executive with proposals for possible compulsory acquisition;

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

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

(Note: the report contained information ‘not for publication’ within its appendices that had been circulated to executive councillors only)

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Town Centre Task Force – meeting

Environment & Economy Scrutiny Committee