Purpose

To consider approving a six-month extension of
the backstop date to allow the developer more time to confirm their
arrangements to progress the MK Gateway Scheme.

Content

1.1 That the public and press be excluded from the meeting
by virtue of Paragraph 3 (Information relating to the Financial or
Business Affairs of the Authority) of Part 1 of Schedule 12A of the
Local Government Act 1792, in order that the meeting may consider
the Confidential Annexure A of the report.
1.2 That work undertaken with MKDP, indicating that there
is a realistic chance that the funding for the placemaking
development is now available, be noted.
1.3 That a final change to the Contract Long Stop Date to
30 June 2024, be agreed, in order to deliver the required
placemaking development in accordance with the Council’s
previous decisions of 19 December 2017, 27 March 2018, and 21 March
2023.
1.4 That further indirect subsidy of £204,045 be
agreed, in addition to the previously agreed subsidy of
£1,134,000 and in line with the principles assessed as part
of the decision dated 21 March 2023, which have been reviewed as
still being applicable for this decision.