Issue - meetings

To consider a joint report of the Cabinet Members for Economy & Regeneration; Resources, Commissioning & Governance and Sustainable Stockport.

The report sets a proposal to seek approval from the Cabinet to provide debt finance to fund the construction work to deliver the proposed redevelopment at Weir Mill and to dispose of land holding to facilitate the delivery of the scheme.

(NOTE: This item includes ‘not for publication’ appendices that have been circulated to members of the Cabinet only).

The Cabinet is recommended to:-

(1) Approve the proposed development finance facility to support the delivery of the Weir Mill scheme as outlined in the report and appendices;

(2) Delegate authority to the Deputy Chief Executive, Place, and the Deputy Chief Executive, Corporate and Support Services, in consultation with the Cabinet Members for Economy & Regeneration; Resources, Commissioning & Governance and Sustainable Stockport to:-

(i)            finalise the terms of the proposed facility and formally enter into the legal agreements and banking documentation required to give effect to the terms set out in this report;

(ii)          enter into such agreements to support the Council with external resources to facilitate and monitor such agreements and banking documentation;

(3) Authorise the disposal of the Triangular Land;

(4) Delegate authority to the Strategic Head of Service (Legal & Democratic Governance) to do all things necessary or incidental to the implementation of the above-mentioned resolutions

Officer Contact: Paul Richards on 0161 474 2940 or email: paul.richards@stockport.gov.uk

The Deputy Leader of the Council and Cabinet Member for Resources, Commissioning & Governance (Councillor Tom McGee) submitted a joint report of the Cabinet Members for Economy & Regeneration; Resources, Commissioning & Governance and Sustainable Stockport (copies of which had been circulated) setting a proposal to seek approval from the Cabinet to provide debt finance to fund the construction work to deliver the proposed redevelopment at Weir Mill and to dispose of land holding to facilitate the delivery of the scheme.

It was further reported that the proposal aimed to bring the mill building back into use and proposed the development of new homes within the town centre and would be a catalyst for further development in the area.  It was noted that the condition of the building was such that it was likely that the proposals before the Cabinet likely constituted the only viable proposal to retain the building.

(NOTE: This item included ‘not for publication’ appendices that had been circulated to members of the Cabinet only).

RESOLVED - (1) That approval be given to the proposed development finance facility to support the delivery of the Weir Mill scheme as outlined in the report and appendices;

(2) That authority be delegated to the Deputy Chief Executive, Place, and the Deputy Chief Executive, Corporate and Support Services, in consultation with the Cabinet Members for Economy & Regeneration; Resources, Commissioning & Governance and Sustainable Stockport to:-

(i)         finalise the terms of the proposed facility and formally enter into the legal agreements and banking documentation required to give effect to the terms set out in this report;

(ii)        enter into such agreements to support the Council with external resources to facilitate and monitor such agreements and banking documentation;

(3) That the disposal of the ‘Triangular Land’ be authorised;

(4) That authority be delegated to the Strategic Head of Service (Legal & Democratic Governance) to do all things necessary or incidental to the implementation of the above-mentioned resolutions.

To consider a joint report of the Corporate Director (Place) & Deputy Chief Executive and Corporate Director (Corporate and Support Services) & Deputy Chief Executive

The report sets a proposal to seek approval from the Cabinet to provide debt finance to fund the construction work to deliver the proposed redevelopment at Weir Mill and to dispose of land holding to facilitate the delivery of the scheme.

The Scrutiny Committee is recommended to comment on and note the report.

Officer Contact: Paul Richards on 0161 474 2940 or email: paul.richards@stockport.gov.uk

The Corporate Director (Place) and Deputy Chief Executive submitted a report (copies of which had been circulated) setting a proposal to seek approval from the Cabinet to provide debt finance to fund the construction work to deliver the proposed redevelopment at Weir Mill and to dispose of land holding to facilitate the delivery of the scheme.

(NOTE: This item included ‘not for publication’ appendices that had been circulated to members of the Scrutiny Committee only).

RESOLVED – That the report be noted.