Purpose

This report is requesting a
budget to be allocated to resource the Regeneration
Strategy for the Kentish Town Regis Road Growth Area
project, enabling officers and external consultants to
continue to fulfil the Council’s obligations under the sale
agreement relating to the Car Pound & Reuse
Recycling Centre site on Regis Road NW5 and Holmes Road Depot site
on 76 – 79 Holmes Road NW5.
 
On completion of the sale
contract with Yoo Capital (YC) the Council will
receive a capital receipt and a contribution for costs; the full
amount of the budget will be recoverable from these
receipts.
 
The report considers the risks
and mitigations available.
 
 

Content

THAT the Executive Director, Supporting Communities
agrees:
 

1.    
To approve the budget of £808,000 from Corporate
resources to fund the Regeneration Strategy for the Kentish Town
Regis Road Growth Area including meeting the requirements of the
Conditional Land Sale Agreement, over the next 5 years to
2027/8.

2.    
To approve the total budget with re-profiling between years
as required to achieve the programme dates.