Purpose

Recommendations for ending the Joint Venture arrangement at Montagu Industrial Estate

Decision

DECISION: The Cabinet agreed to

i.        Agree to bring the Montagu Joint Venture Partnership to an end and to delegate authority to the Executive Director of Housing and Regeneration to agree terms with HBD for the purposes of the dissolution.

ii.       Agree to delegate authority to the Director of Law and Governance to take all necessary steps to wind up the limited liability partnership and to enter into all and any other necessary legal documentation or agreements, and to administer any necessary company secretary administration/filings.

iii.      Agree to procure or have novated or assigned to the Council a contract for the management of the Montagu Estate and to delegate authority to the Executive Director for Housing and Regeneration to enter into such legal agreements as are considered appropriate.

iv.     Note that a further report will be brought back to members for a decision on any terms of disposal once the site has been marketed and offers have been received and evaluated.

v.       Note that the planning permission for the site may be issued by the Head of Planning in accordance with the resolution of the Planning Committee on 28 September 2022 requirements subject to a condition that development cannot commence until an appropriate s.106 or other form of legal agreement has been entered into.

vi.     Approve the recommendations contained within the Part 2 report.