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Airport Business Park
Resolved:- 1. That subject to the adoption of the Joint Area Action Plan (JAAP) as referred to in the submitted report, the land north of Aviation Way identified in the JAAP for development as a business park be actively marketed and brought forward for development as the Airport Business Park, including a MedTech Campus. 2. That a sum of £10 million be put forward for consideration as part of the Capital Programme review profiled over 2015 to 2018 to support the development of the Airport Business Park, particularly to fund any up-front infrastructure, enabling works and renewable energy and to address any existing tenancies. 3. That subject to the final decisions on overall funding of the scheme in the development arrangement, the capital outlay be recovered through the sale of some parts of the land and from on-going revenue generation through ground rents and other income-generating opportunities (including from renewables if achievable). 4. That the progress made in bringing forward the MedTech Campus be noted, particularly the award of European Regional Development Fund money to develop and deliver a £5.24 million package of support to medical technology businesses and supply chains. In addition, the progression of an Assisted Living workstream by the partnership which is investigating assisted living technology, be noted. 5. That authority be delegated to the Corporate Director for Corporate Services, in consultation with the Executive Councillor for Corporate Services, to engage appropriate professional advice and support up to financial close with a development partner. 6. That authority be delegated to the Chief Executive, in consultation with the Leader, to select the preferred development partner following the outcome of the OJEU procurement process. 7. That the possibility of locating a solar farm in the area north of the proposed development be explored. Reason for Decision To ensure that the Council can bring forward the development of the Airport Business Park and can present it as part of a package which includes Council land and pump-priming funding alongside other investment from alternative funding sources including the private sector, SELEP, HM Treasury and Essex County Council. Other Options Not to bring forward development at this time. However, this would mean that Harlow and Chelmsford would gain commercial advantage in harnessing the marketing power of the MedTech campus and better place themselves to support the cluster of high tech business it is hoped that the development will bring. Delaying development would not support the proposed economic and employment growth on the back of the JAAP and the success of London Southend Airport. Note:- This is an Executive Function. Eligible for call in to Policy and Resources Scrutiny Committee Executive Councillor:- Moring This matter had previously been subject to pre-Cabinet scrutiny.*Called in to:- Place Scrutiny Committee