Purpose

The purpose of this report is to outline and
approve the next steps to procure and appoint a development partner
to take Student Accommodation proposals up to and including
Riba stage 3, advise on future
investment models and support in the creation of business cases for
cabinet to gain authorisation to further advance the proposals on
two sites in Hereford City – Edgar Street Stadium and College
Road Campus.

Decision

That:
 

a)   
The Cabinet Member for Community Services and Assets approves the
spend of up to £253,679, using both 2023/24 and 2024/25
revenue budgets and reserves to be used to develop student
accommodation across Hereford City, as detailed in the resources
table in section 20;
 

b)   
The Cabinet Member for Community Services and Assets authorises
entering           into
contract up to the value of £200,000 with a development
partner following a compliant tender process to prepare a full
business case and to take both sites up to and including
Riba Stage 3 so further governance
decisions can be made in relation to developing student
accommodation;
 

c)    
The Cabinet Member for Community Services and Assets delegates all
operational decisions to the Director of Resources and Assurance to
complete the above recommendations