The Cabinet considered a joint report of the Deputy Chief Executive (Place) and Director of Finance and Resources on the above.

Resolved:-

1. That the acquisition of the former Gasworks site, noting the strategic opportunities, the risks and the associated financial implications, be pursued.

2. That the use of the land, subject to planning, for parking in the short-medium term with a view to developing a scheme for part or all of the land in the medium-long term based on the strategic and development opportunities outlined in the submitted report, be approved.

3. That the authority to settle the terms and complete the transaction within the financial parameters as set out in sections 5 and 10.2 of the submitted report be delegated to the Deputy Chief Executive (Place) in consultation with the Leader of the Council and the Director of Finance and Resources.

4. That the impacts on other sites be noted and the reasons for the recommendations set out at sections 6 and 9 of the report, be approved.

5. That the financial implications and amendments required to the Capital Programme and use of reserves as set out in the report, be approved.

6. That any necessary procurement and planning activities to enable the remediation and development of the site to proceeed in both the short-medium and medium-long term, be approved.

Reason for Decision

As set out in the submitted report

Other Options

As set out in the submitted report

Note:- This is an Executive Function

Called in to: Place Scrutiny Committee

Executive Councillor:- Holland