Issue - meetings

To consider a joint report of the Executive Councillors (Economic Development & Regeneration) and (Governance & Corporate Services)

(Note: this report contains information ‘not for publication’ in its appendices and these have been circulated to executive councillors only)

This report sets out the current financial position to enable the delivery of the Covent Garden scheme and includes the current known estimated value of the investment which will take place, the funding which the scheme has already attracted and the funding needed to enable the final delivery of the project. The report includes a request for corporate resources from the Council as part of the wider funding package – this is set in the context of future revenue funding resources that the Council could receive from New Homes Bonus and increased Council Tax receipts as a result of the development.

The report outlines the delivery strategy for the total scheme and seeks approval to negotiate the acquisition and CPO of properties and land within the Covent Garden Village Master Plan area. This includes properties and land required to facilitate the implementation of the second phase of the development and the associated infrastructure and access road construction.

The report also outlines the strategy for the identification of a preferred developer partner to bring forward future phases of the master plan.

The Executive is recommended to:

•      Note the progress on the delivery of Covent Garden;

•      Approve the use of Council resources as set out in the Financial Strategy;

•      Approve the implementation of a compulsory purchase process to secure the necessary land ownerships to implement the Masterplan;

•      Request that work commences to identify a preferred developer, utilising the DPP process to deliver phases 3 and 4 of the Master Plan.

Officer contact: Andy Kippax, 0161 474 4319, andy.kippax@stockport.gov.uk

A joint report of the Executive Councillors (Economic Development & Regeneration) and (Governance & Corporate Services) was submitted (copies of which had been circulated) inviting the Executive Meeting to consider an update on the delivery of the Covent Garden regeneration objectives, including the current financial position and a delivery strategy for the total scheme. The report detailed measures needed to progress the scheme, including the allocation of funding and the acquisition and compulsory purchases of properties within the Covent Garden Village Master Plan area.

(NOTE: the report included exempt information ‘Not for Publication’ contained within its appendices that were circulated to executive councillors only)

RESOLVED – That

·         progress with the delivery of the Covent Garden Master Plan be noted;

·         the use of Council resources as set out in the Financial Strategy be approved;

·         the implementation of a compulsory purchases process to secure the necessary land ownerships to implement the Master Plan be approved;

·         the Service Director (Place Development) be requested to commence work to identify a preferred developer for the scheme, utilising the DPP process to deliver phases 3 and 4 of the Master Plan.

To consider a joint report of the Corporate Director, Corporate and Support Services and Service Director (Place Development)

The report sets out the current financial position to enable the delivery of the Covent Garden scheme, outlines the delivery strategy for the total scheme and the proposed strategy for the identification of a preferred developer partner to bring forward future phases of the Masterplan.

This proposal will be considered by the Executive at the meeting on 2 April 2013.

(NOTE: Appendices 2, 3 and 4 contain information ‘not for publication’ and have been circulated to members of the Scrutiny Committee only).

The Scrutiny Committee is requested to note and comment on the contents of the report.

Officer contact: Andy Kippax on 0161 474 4319 or e mail: andy.kippax@stockport.gov.uk

The Service Director (Place Development) submitted a report (copies of which had been circulated) setting out the current financial position to enable the delivery of the Covent Garden scheme, outlining the delivery strategy for the total scheme and the proposed strategy for the identification of a preferred developer partner to bring forward future phases of the Master Plan.

(NOTE: the report included information ‘Not for Publication’ contained within appendices 2, 3 and 4 that had been circulated to Members of the Scrutiny Committee only).

It was reported that the report would be considered by the Executive at its meeting on 2 April 2013.

The Executive Councillor (Economic Development & Regeneration) attended the meeting to respond to Members’ questions

In response to a Member’s question, it was clarified that there were other possible developer partners who were interested in working with the Council on the scheme.

RESOLVED – That the report be noted.

To consider a joint report of the Corporate Director, Corporate and Support Services and Service Director (Place Development).

The report sets out the current financial position to enable the delivery of the Covent Garden scheme, outlines the delivery strategy for the total scheme and the proposed strategy for the identification of a preferred developer partner to bring forward future phases of the master plan.

This proposal will be considered by the Executive at the meeting on 2 April 2013.

(Note: Appendices 2, 3 and 4 contain information ‘not for publication’ and have been circulated to members of the Scrutiny Committee only).

The Central Stockport Area Committee at its meeting on 28 February 2013 noted the report

The Scrutiny Committee is requested to note and comment on the contents of the report.

Officer contact: Andy Kippax on 0161 474 4319 or e mail: andy.kippax@stockport.gov.uk

The Service Director (Place Development) submitted a report (copies of which had been circulated) setting out the current financial position to enable the delivery of the Covent Garden scheme, outlining the delivery strategy for the total scheme and the proposed strategy for the identification of a preferred developer partner to bring forward future phases of the master plan.

(NOTE: the report included information ‘Not for Publication’ contained within appendices 2,3 and 4 that had been circulated to members of the Scrutiny Committee only)

RESOLVED – That the report be noted.

To consider a joint report of the Executive Councillors (Economic Development & Regeneration) and (Governance & Corporate Services)

On 19 June 2012 the Executive approved the purchase of properties within Covent Garden which were on key sites within the area for development and to enable the Council to have greater control over the site. This report seeks approval to purchase further properties on the open market as part of the scheme development strategy and to seek to negotiate and acquire the remaining properties required to implement the vision for the area within agreed financial parameters.

The Executive is recommended to:

·         note the contents of this report

·         approve the purchase of 47 Covent Garden

·         request the Service Director (Place Development) to seek to negotiate for the remaining units within the Covent Garden flats and 78 Lower Hillgate in accordance with the details outlined in Confidential Appendix 2.

Office contact: Barry Khan/  Paul Lawrence, 0161 474 3202/ 218 1940, barry.khan@stockport.gov.uk / paul.lawrence@stockport.gov.uk

A joint report of the Executive Councillors (Economic Development & Regeneration) and (Governance & Corporate Services) was submitted (copies of which had been circulated) inviting the Executive Meeting to consider a proposal to purchase further properties on the open market as part of the scheme development strategy for the Covent Garden area scheme and to seek to negotiate and acquire the remaining properties required to implement the vision for the area within the agreed financial parameters.

(NOTE: the report included information ‘Not for Publication’ contained within its appendices that had been circulated to executive councillors only).

RESOLVED – That, in order to further the redevelopment of the Covent Garden area:-

·         approval be given to the purchase of 47 Covent Garden;

·         the Service Director (Place Development) be authorised to seek to negotiate for the remaining units within the Covent Garden flats and 78 Lower Hillgate in accordance with the detail outlined in Confidential Appendix 2.

To consider a joint report of the Leader of the Council and the Executive Councillor (Governance & Corporate Services)

(Note: this report includes information ‘Not for Publication’ contained within its appendix that has been circulated to executive councillors only)

The report seeks approval from the Executive to acquire properties within the “Covent Garden Village” area to further the vision for the area, which is the creation of a residential led scheme of mixed tenure but with the focus on increasing more economically active households that will support existing businesses and facilitate new business investment within the local area, and Stockport town centre. It is proposed that the acquisition is funded utilising the Council’s prudential borrowing facility.

The Executive is recommended to approve;

·         the purchases of the properties within Covent Garden as identified, and on the terms set out in the Confidential Appendix.

·         the submission of the application for GM Growing Places Funding on the terms stated in this report.

Officer contact: Ian Harrison, 474 4550, ian.harrison@stockport.gov.uk

The Executive Councillor (Governance & Corporate Services) submitted a report (copies of which had been circulated) inviting the Executive Meeting to consider a proposal to acquire properties within the ‘Covent Garden Village’ as part of a residential scheme to further the vision for area. The acquisitions would be funded through prudential borrowing.

(Note: the report included information ‘Not for Publication’ contained within its appendix that had been circulated to executive councillors only)

An extract from the Minutes of the Corporate, Resource Management & Governance Scrutiny Committee held on 18 June 2012 in respect of this item was also circulated for consideration.

RESOLVED – That approval be given to

·         the purchases of the properties within Covent Garden as identified in the report and accompanying plans, on the terms set out in the Confidential Appendix, and

·         the submission of an application for Greater Manchester Growing Places Funding on the terms set out in the report.