Purpose

In November 2023, Cabinet ‘Endorsed the
establishment of the Joint Delivery Vehicle and authorised the
Executive Director of Growth and Regeneration in consultation with
the Director of Finance, the Deputy Mayor and Cabinet member for
Finance, Governance, Property and Culture and Director Legal and
Democratic Services to finalise the arrangements for the JDV and
thereafter enter into the Shareholders’ Agreement and
associated documentation with all other BTQ Partners’.
Since the Cabinet approval, colleagues in each partner organisation
have been working with the JDV Project Team (led by the WECA Temple
Quarter Delivery Director), and their appointed consultants
Eversheds Sutherland and Deloitte, to progress the establishment of
the JDV.
Following professional advice the partners determined that a
Limited liability Partnership (LLP) was the most appropriate form
for the JDV to take, and accordingly, with legal support from all
partners, have agreed the terms a LLP Agreement. This will be
executed by the Council, WECA and Homes England at this time. It is
expected that Network Rail will join in due course, and the
agreement makes provision for this.
At this time there is no financial commitment from the Council (ie
to fund the initial activities of LLP or otherwise).
At this time the project benefits from an interim business plan,
designed to take the JDV to December 2024, by which time the
partners expect to have developed a full business plan together
with all supporting policies and strategies. These will be required
before the JDV can commence full implementation of the TQ
project.
Consultation has taken place with the Director of Finance, the
Deputy Mayor and Cabinet member for Finance, Governance, Property
and Culture and Director Legal and Democratic Services, who are
supportive of the decision.

Content

To enter into Temple Quarter Limited Liability
Partnership (LLP) Agreement to deliver the comprehensive
regeneration of Bristol Temple Quarter.