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Special Meeting, Cabinet - Monday, 29th April, 2024 2.00 pm
April 29, 2024 View on council website Watch video of meetingSummary
The council meeting focused on the Phosphorus farm land transactions, discussing the proposed income strip leases and the council's role in the development. The meeting also served as a farewell for Councillor Derek Jarvis, who is not standing for re-election.
Decision on Phosphorus Farm Land Transactions: The council reviewed a report on entering into income strip leases for Phosphorus farm development. The report, previously discussed in a pre-cabinet screening committee, outlined the financial and legal due diligence still underway. The council will become a leaseholder and manage the properties post-construction, with significant funding expected from pension investment corporations. Concerns were raised about the affordable housing component, which is still under negotiation. The decision will allow the council to control the development without additional responsibilities for building a stadium, as previously planned. The implications include a potential increase in local housing supply and long-term financial commitments.
Additional Information: The meeting was notably Councillor Derek Jarvis's last, marking the end of his over two decades of service. His health issues and contributions were acknowledged, adding a personal and emotional element to the proceedings. This underscored the community and continuity aspects often present in local government.
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