Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Seeks approval to undertake full procurement
process to find and appoint a suitable JV partner to develop out
the Stockport 8 area of Town Centre West
The Cabinet has considered a report detailing a proposal for the procurement of a Joint Venture Partner (a private sector development entity) to bring forward development on the sites in Stockport Town Centre West known as Stockport 8 and has then:-
(1) Approved the principle of the Council entering into a Joint Venture with a Joint Venture Partner as proposed within the report on terms to be agreed
(2) Approved commencement of the procurement of a Joint Venture Partner as set out in section 3 of the Report and approve the costs of up to £300,000 set out in section 4.4 of the Report which will be funded from the Capital Investment Reserve – Mayoral Development Corporation.
(3) Delegated authority to the Chief Executive and Deputy Chief Executive in consultation with the Cabinet Members for Economy and Regeneration, and Finance and Resources to:
· appoint a Joint Venture Partner
· agree the terms of the Corporate Joint Venture
· enter into all appropriate legal agreements to establish the Corporate Joint Venture
· enter into all legal documentation required to deliver the development of Stockport 8 and to take the necessary steps to implement the strategy set out in this report
(4) Delegated authority to the Strategic Head of Service (Legal & Democratic Governance) to do all things necessary or incidental to the implementation of the resolutions above.
(NOTE: The report contained a ‘not for publication’ appendix that was circulated to the Cabinet only).
Reason Key: Significant expenditure or savings;
Equality and/or Environmental Impact Assessment: EIA is required
Decision Reference: CAB411
Declarations or conflicts of Interest: None.
Forward Plan Reference: E&R87
Other reasons / organisations consulted
Contact: Paul Richards, Director of Development and Regeneration Email: email@example.com Tel: 0161-474-2940.
Report author: Dawn Arnold
Publication date: 03/10/2022
Date of decision: 28/09/2022
Decided at meeting: 28/09/2022 - Cabinet
Effective from: 08/10/2022